The contemporary protectionist furor in the U.S. Congress is not only unprecedented in the post-World War II era but also anomalous. It is anomalous because it occurs in the context of an economic recovery and one of the most extended recoveries at hat. Although unprecedented and anomalous, it is not difficult to explain for it occurs during one of the most unbalanced economic recoveries on record.
© 1985 American Enterprise Institute
Arndt, Sven W. 1985. Trade Problems and Trade Policies. The AEI Economist: 1-7.