Word: tariffers
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Until the big war, that is, World War I, which triggered 70 years of deglobalization - tariff walls, capital controls and autarky. Politics produces those exogenous factors economists always invoke to hedge their optimistic bets. Which is why we can't count on the decoupling effect forever...
...factory] opening ceremony because I didn't want to be embarrassed when they said that I brought [Coca-Cola] to Afghanistan," says Kazimi, who claims his successors in the commerce department disregarded his commitments. "We promised them electricity, we promised them security. We offered tax holidays and tariff reductions. It didn't happen. How can anyone operate under these conditions...
...region's fastest-growing cities is Kayseri, formerly Caesaria, founded more than 3,000 years ago. Today, it still has the appearance of an old Asian trading town. But a tariff agreement signed ten years ago between Turkey and the E.U. gave a massive boost to the city's textile, furniture and electronic supply industries, with 400 new factories having been built in the past five years alone. And the expansion of exports to Europe and the U.S. has improved local quality control and raised labor and industrial standards in the region. Signs of prosperity are everywhere as the city...
...involve himself. He had left the White House in 1909 with the expectation that Taft, his good friend and chosen successor, would continue on the progressive course set by the Roosevelt Administration. Instead, Taft had filled his Cabinet with corporate lawyers, bungled a chance to overhaul an antiquated tariff that enriched manufacturers at consumers' expense and undermined Roosevelt's farsighted environmentalism. Taft means well, Roosevelt would say, "but he means well feebly...
...urgent questions of the day were economic: how best to regulate the economy and what to do about a tariff policy that kept consumer prices artificially high by protecting American companies from foreign competition. The tariff had been created decades earlier to raise revenue (income tax being a thing of the future) and to nurture a stripling American manufacturing establishment. As the manufacturers prospered, they convinced their captives in Congress that ever thicker blankets of protection were needed to preserve American jobs. Wilson, calling the tariff "stiff and stupid," promised an immediate revision. Roosevelt, arguing that a speedy change would...