Trading Away Free Trade
Full article is available in PDF (Liberty magazine, November 1994, pp. 22-26).
The General Agreement on Tariffs and Trade has lowered the world’s tariff barriers fairly well. Its proponents—including the Cato Institute and other libertarian groups—argue that the latest modification to GATT, the World Trade Organization, will advance free trade even further. So does the Clinton administration, which negotiated the final agreement, and so have most large businesses. It is opposed by a handful of populists like Ralph Nader and Pat Buchanan, with environmental and labor groups withholding support until further “protections” are added.