Protectionism Destroys Fraternity Between Nations

New York London GMT Tokyo Singapore

Protectionism Destroys Fraternity Between Nations

By Mark Perry on October 10, 2009 | More Posts By Mark Perry | Author's Website

According to Alfred Nobel’s will, the Peace Prize should be awarded “to the person who shall have done the most or the best work for fraternity between nations, for the abolition or reduction of standing armies and for the holding and promotion of peace congresses.”

The complete abdication by the Obama administration on trade should disqualify him from the Nobel Peace Prize. Free trade has lifted hundred of millions out of poverty worldwide and promoted a closer global society. But the Obama White House has been as protectionist as any in memory. Free trade is that the core of foundation of the post-World War II economic order.

~Jimmy Pethokoukis

Good point, since protectionist trade policies like the tire tariffs work to destroy the “fraternity between nations” not promote it.

Check Out These Related Posts:

If you like this article please...

Subscribe by RSS Subscribe by Email

Email This Post To A Friend

Recent News:

*Estonia Sept. Imports Down 33% On Year - 12 mins ago
*Estonia Sept. Trade Deficit At EEK 0.9 Bln - 14 mins ago
*Estonia Sept. Exports Down 24% On Year - 15 mins ago
European Stocks Set For Positive Opening - 28 mins ago
*UK’s CBI: The Recession And Credit Crunch Had Become The Catalysts For A New Era - 39 mins ago

Opinions From Our Contributors

Commodities China Owns The Heavy Stone Has Gold Just Broken Out Of Its Trend Channel? The Dirty Little Secrets Of Warrants, Options & LEAPS Interesting Articles To Read The Forgotten Commodity - Rice Commodity Investing: ETFs Or Mutual Funds? John Paulson Launching A Gold Fund With $250M Of His Own Money Profit From The Falling Dollar With ETFs Wheat Playing Catch-Up As Commodities Rally Regulators And Commodity ETFs: Why They’re Evolving Read More »	Financials Financial ETFs Still Remain Vulnerable Ron Paul Thinks That Fed “Oversight Is Laughable” Buffett Borrows For Rail Acquisition Investment Ideas: Here Are 3 Dirt Cheap Stocks Treasury To Auction TARP Warrants Dear Reader, We Cannot Criticize Goldman Sachs. Instead, We Admire It 2010 Outlook For The US Banking Industry Get Rid Of Your General Electric Shares Tufts Endowment And Risk Taking? Regional Bank ETFs: The Bad And The Good Read More »	Exchange Traded Funds What You Should Know About Precious Metals ETFs And Taxes Main Street Vs. Wall Street: Using ETFs To Capitalize Why You Should Watch This Leisure & Entertainment ETF Biotech Investing: Spread Your Risks With ETFs Are You Going For Yield With Your ETFs? Rydex Market Timers: At It Again Is An Asset Bubble Forming In Hong Kong’s ETF? Senior Secured Floating Rate Bonds: The Best Investments To Own When Interest Rates Rise Why Gold Will Surge To A Record $2,000 In 2010 KBW Regional Banking ETF: Fundamentals Are Stinky, But The Chart Looks Great Read More »
Stocks There Is A Considerable Gap Between What The Fed’s Saying And What It’s Thinking S&P 500 Flat Over The Week As Investors Reflect On Prices Versus Fundamentals Singapore Stock Market Update: Focus On Blue Chips I’ve Noticed A Profitable Pattern Stock Picks For Monday: Nanometrics, Melco Crown Entertainment, MetroPCS Communications And Cell Therapeutics S&P 500 Index Is Still Overvalued This Small Oil Exploration Company Is Ripe For A Takeover… Here’s How To Profit 3 Steps To Becoming A More Successful Trader The Transportation Sector: Here Are Three Investments In A Sector That Are Ready To Soar Stock Market Briefs: DR Horton, Dell, JM Smucker Read More »	Forex Month To Date Review Of The Market One Reason Why The US Dollar Might Rise Forex Wrap-up: A Massive Short-Covering Rally In The US Dollar May Just Be Starting Australian Dollar: Caution Canadian Dollar: Caution “Audit The Fed” Bill Moves Along USD/JPY Pushing Against The 100 Hour Moving Average At 89.11 Swiss Franc: The Downside Prevails Japanese Yen: Under Pressure British Pound: The Downside Prevails Read More »	Economy The Economists Are Wrong Again What’s Triggering America’s Populist Rage? China Will Blow Up Before It Grows Up Contrary To Conventional Wisdom, When China Drops Its Currency Peg, The Immediate Benefits Will Flow To The Chinese, Not Americans Societe Generale Tells Investors How To Prepare For Potential “Global Collapse” Obama Commits To Free Trade Agreement With South Korea, But Auto Trade Remains An Obstacle Exponential Growth, Finite World The Message Of The 2-Year US Treasury Note, Deflation And Japan Why Investors Should Look To Japan Again Bond Sentiment: Treasury Yields May Drop Read More »