A very interesting editorial from the WSJ about the threat of a Trade War, and the lessons we SHOULD have learned since 1930.
I do have to disagree with their view of the "carbon tariff" as protectionist (though to be honest I have not spent as much time looking into it as I should). I've read Prof. Krugman's arguments, and I agree. Its not protectionism (or at least the economic reasoning is not), but rather Pigouvian taxation, which honestly would most likely work better than this cap-and-trade bill (which Congress ruined). If some one can explain to me why not, go for it. I'm honestly all ears on this one.
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