How beggar-thy-neighbour policies can make global trade come to a standstill
The term is attributed to Scottish economist Adam Smith who first used it in his book in 1776. A trade war in which a government imposes heavy tariffs and strict quotas on the import of foreign goods into the country is the most common example of beggar-thy-neighbour policies
The term is attributed to Scottish economist Adam Smith who first used it in his book in 1776. A trade war in which a government imposes heavy tariffs and strict quotas on the import of foreign goods into the country is the most common example of beggar-thy-neighbour policies
What's Your Reaction?
