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The Eight Myths of Protectionism

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Abstract:

Congress is consideriqg a national industrial policy, supposedly to restore U.S. economic vitality by facilitating closer coordination of industry and labor actions with those of government. According to Walter Mondale, a national policy is needed because I"Government must work in partnership with the market ... to reassert American national interest in a tough competitive world." One result of such a partnership could be a sweeping reform of trade policy.