“Some think the New Deal rescued the United States from economic crisis in the 1930s. Others argue precisely the opposite. But whatever their ideology and whatever their credentials, most of the pundits, historians, and economists who debate the Great Depression agree about one thing: Whatever may have caused the crisis, protectionism, trade barriers, and, yes, the Smoot-Hawley Tariff Act helped ensure that it lasted as long as it did. … there are many ways to pursue protectionist policies, and rest assured that someone, somewhere, is right now trying every single one of them. New tariffs are already in force, for example, in Russia, where especially high ones have destroyed the previously thriving used-car import business (and thus inspired used-car salesmen to stage a series of unusually violent protests). Rumors of more tariffs pending — in Brazil, in the Philippines — are haunting the steel industry trade press. Still, these are minor infractions. The real story, over the next several years, will be the spread of more carefully camouflaged protectionism — measures, some legal and some not, deliberately designed to help one nation’s workers or companies at the expense of those next-door.” (02/16/09)