Why Protectionism Doesn’t Pay

Throughout the post-World War II era, the United States has been the world’s staunchest supporter of open trade. With our trade deficit topping $170 billion in 1986, however, it is not surprising that this support for open trade has ebbed and, indeed, turned into outright calls for protectionist measures. One need look no further than […]

by

Robert Z. Lawrence

and

Robert E. Litan

by

Robert Z. Lawrence

and

Robert E. Litan

From the Magazine (May 1987)

Throughout the post-World War II era, the United States has been the world’s staunchest supporter of open trade. With our trade deficit topping $170 billion in 1986, however, it is not surprising that this support for open trade has ebbed and, indeed, turned into outright calls for protectionist measures. One need look no further than this journal for a recent expression of discontent about free trade doctrine.¹

A version of this article appeared in the May 1987 issue of Harvard Business Review.

RL

Robert Z. Lawrence is the Albert L. Williams Professor of International Trade and Investment at the Harvard Kennedy School, a senior fellow at the Peterson Institute for International Economics, and a research associate at the National Bureau of Economic Research.
RL

Robert E. Litan is an Adjunct Senior Fellow at the Council on Foreign Relations. He can be followed on Twitter @BobLitan.

Why Protectionism Doesn’t Pay

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