PUBLIC CHOICE THEORY, PROTECTIONISM AND THE CASE OF NAFTA |
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Authors: | David Quartner |
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Abstract: | Public choice theory suggests that the political process has an in-built tendency to promote protectionist measures favoured by organised interest groups rather than trade liberalisation that would benefit society as a whole. But the example of the North American Free Trade Agreement shows that political campaigns in support of free trade can successfully mobilise public opinion to neutralise the power of special-interest groups. Therefore, it is imperative that politicians and others who believe in free trade remind the public of its benefits. |
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