The Mercantilist Myth Continues

Berlin WallFrom today’s Open Europe news summary:

EurActiv reports that free trade agreement talks between Canada and the EU have reached a deadlock due to EU opposition to raising Canada’s quotas of imported beef and pork and Canadian opposition to increasing imports of EU dairy products, eggs and poultry. EurActiv

Both Canada and the EU subscribe to the Mercantilist myth that a nation is harmed if it allows its citizens to purchase desired goods from producers beyond it borders than it sells to those same producers.  It is obvious that both Canada and the EU are less concerned about the standard of living of ALL their citizens than about protecting the livelihoods of politically connected, inefficient industries.  (If they were efficient, they would not need tariff protection.)  Patrick Barron

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