Letter: Doing tariffs and trade the Monty Python way
A letter from Michael Deasy:
Here is a primer on tariffs and trade. I place a charge on your goods entering my country. You charge your customers in my country more so that you can continue to bring your goods into my country.
The price of your goods paid by people in my country rises. This causes inflation and people in my country become very, very, angry indeed. I blame this natural consequence of my tariffs on your trade on you.
So then I propose further pointless counter-productive protectionism. On and on we go.
Bretton Woods? More like Monty Python.
And it has never worked anywhere for any length of time in economic history. Where have all the economists gone?
Michael Deasy, Bandon, Co Cork