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Messrs Smoot and Hawley in 1929: don't blame us!

Ha-Joon Chang has been described by Martin Wolf—the FT commentator—as the world’s most effective critic of globalisation. The South Korean economist writes a short, provocative piece in the new issue about how we have misunderstood the protectionism of the 1930s and how we should not be afraid of some open, limited protectionist measures now. His point is that it is happening anyway because political pressures insist on giving…

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