In many societies the domestic social costs of adjustment to changing patterns of comparative advantage are believed to outweigh the advantages of further trade liberalization.

A market is not politically neutral; its existence creates economic power which one actor can use against another.

The historical record suggests that the transition to to a new hegemon has always been attended by what I have elsewhere called hegemonic war.

In the abstract world of American economists, equations run both ways; they believe that by changing the sign of a variable from plus to minus or from minus to plus or the price and quantity of x or y, the direction of historical movement can be reversed.

A prolonged and massive increase in aggregate wealth per capita has taken place over several centuries.

In many societies the domestic social costs of adjustment to changing patterns of comparative advantage are believed to outweigh the advantages of further trade liberalization.

Liberal economists conceive of societies as black boxes connected by exchange rates; as long as exchange rates are correct, what goes on inside the black box is regarded as not very important.