Structural change in the world economy and forms of protectionism

Warnings about the dangers of protectionism are being heard from all sides at present. However, rehearsing the advantages of free trade and the drawbacks of protectionism is to little avail if it fails to take account of the limitations that the international context imposes on national economic policy. This article is an edited and updated version of a paper presented at a conference organized by the Evangelical Academy, Loccum, between 16th and 18th September 1988.