I certainly hope this return to protectionism is real and sooner than later.
"Renaissance Thinking About the Issues of Our Day"
The following is no proposal but an observation. Most, maybe all, of the world's current financial and economic woes can be credited to globalization, particularly to the proliferation of free trade agreements. There's a movement currently taking shape for a return to protectionism, a movement that is long overdue and ought to be welcomed by "commoners." You can be sure that this incipient movement will be fought tooth and nail by Wall Street and its apostles.
A nation ought to accept as a fundamental obligation the defense of its resources, its workers and its manufactures. I admire the recent nationalization action of Argentina's brave, intelligent president, Cristina Fernandez.
People in the U.S. weep and wail about outsourcing, unemployment, decline in standard of living and the threatened middle class. Well they should. Meanwhile they drive their imported vehicles over to SAMS or WalMart in order to buy products made in someone else's back yard.
Some people say that there needs to be a revolution. Maybe so, but first there needs to be an awakening.
There is a thoughtful essay on globalization at Project Syndicate's web page. Here's the address:
For those interested in the subject this book might be rewarding: William McKinley, Apostle of Protectionism. In addition to laying out McKinley's position in detail the book also contains a brief discussion of the opposing views of Jefferson (globalization) and Hamilton (protectionism) and why they held such divergent opinions. Wikipedia also has a pretty good analysis.