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2. Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations (1776;

New York: Random House, 1937), p. 424.

3. For an excellent survey of the failures of protectionism in other countries, see Jim

Powell, "Protectionist Paradise?" in Freedom to Trade, ed. Edward L. Hudgins

(Washington: Cato Institute, 1997), pp. 57-68.

4. "Open Markets--Domestic and Worldwide--Remain the Key to U.S. Economic

Growth," World Trade Organization, October 31, 1996, p. 11, at the net address

http://www.wto.org/reviews/tprb46.htm.

5. Gary C. Hufbauer and Bruce E. Stokes, "The Benefits of Open Markets and the Cost

of Protection and Economic Sanctions," American Council for Capital Formation Center

for Policy Research, Washington, September 9, 1997, pp. 4-5.

6. Ibid., p. 13.

7. For a comprehensive argument in favor of the unilateral approach, see Brink Lindsey,

"Taking the Offensive on Trade Policy," in Market Liberalism: A Paradigm for the 21st

Century, ed. Edward H. Crane and David Boaz (Washington: Cato Institute, 1993), pp.

227-42.

8. Jagdish Bhagwati, Protectionism (Cambridge, Mass.: MIT Press, 1988), p. 21.

9. Trade Employment and Labor Standards: A Study of Core Workers' Rights and

International Trade (Paris: Organization for Economic Cooperation and Development,

1996), p. 6.

10. Office of the U.S. Trade Representative, Study on the Operation and Effects of the

North American Free Trade Agreement, July 1997, p. 8.

11. Joint Economic Committee of the U.S. Congress, Economic Indicators, September

1997, pp. 2, 11, 14.

12. JayEtta Z. Hecker, General Accounting Office, "North American Free Trade

Agreement: Impacts and Implementation," Statement before the Subcommittee on Trade

of the House Committee on Ways and Means, September 11, 1997, GAO/T-NSIAD-97-

256, p. 9.

13. Joint Economic Committee of the U.S. Congress, p. 11.

14. Ibid., p. 10.

15. Office of the U.S. Trade Representative, pp. 23-24.

16. W. Lee Hoskins and James W. Coons, "Mexico: Policy Failure, Moral Hazard, and

Market Solutions," Cato Institute Policy Analysis no. 243, October 10, 1995.

17. Office of the U.S. Trade Representative, pp. 25-28.

18. Ibid., p. 26.

19. Jeff Gerth and Tim Weiner, "Imports Swamp U.S. Food Safety Efforts," New York

Times, September 29, 1997, p. A1.

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