Tuesday, March 9, 2010

Government Failure: Brazil Declares Trade War on the US

Repeating costly past mistakes, governments around the world further special interests at the cost of good economics. As a result, protectionism slowly seeps in.

The last step on the road to economic hell is a new trade war between US and Brazil. Once again, populist politicians and special interest groups win, and everybody else loses. File that under "another example of political rational irrationality" in the Twilight Zone.

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