Partners Wanted: looking at Germany

As it stands, arguably Ireland’s most important trading and investment partner is the United Kingdom. This has been the case since Independence although the balance has shifted greatly since Ireland entered the EEC in 1973 with the UK no longer wholly dominant despite our reliance on the UK in certain sectors such as beef, timber, pork and much more. As Ireland’s reliance on the UK as a trading partner has diminished, it has been able to look to a wider …

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Free trade: Does protectionism protect or destroy jobs?

Neither, according to Paul Krugman. Protectionism causes a misallocation of internal resources, i.e. an economy wastes resources on producing products and services it would be more efficient to import. Any doubts as to where he stands on protectionism v free trade should be readily cleared up by this quote Just to be clear, I don’t think the Smoot-Hawley tariff was a good thing — it was a really bad thing. Nasty protectionism! Bad Smoot-Hawley! Bad! Bad! Bad! Krugman on what …

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