I love how The Economist is so blunt when it comes to defending free trade. In an editorial printed today, the newspaper rightly attacks those who see new opportunities for protectionism whenever the economy seems to shift. My favorite quote:

Services constitute much the larger part of every advanced economy. At the end of this process, what will be left? Gosh, Adam Smith never thought of this. Trade policy needs to be completely rethought.

Well, actually, no.

In another article on the actual effects of “outsourcing” or “offshoring,” it is aruged that the disruption to the economy is much more slight than often proclaimed, and that whatever job losses occur, they are replaced by higher numbers of higher paying jobs.

It’s very refreshing when there are buffoons out there on every side such as John Edwards and Pat Buchanan singing a Siren song of protectionism to anyone willing to listen…