Limits to Liberalism

The conclusion of a free trade agreement between Canada and the United States is just one expression of a wider revitalization of the norms of liberalism. Despite the surge of neo-protectionism in the early 1980s, it is clear that the overarching policy choice for the 1990s is state-sponsored liberalism. Canada's Conservative government is more typical than exceptional in arguing that the path to economic renewal can no longer pass through Keynesian style intervention.1 Everywhere governments proclaim their liberal values, whether as dogma in the case of Britain or as necessity in the case of France. International competitiveness is the objective, and to reach it they will select market-driven policies, minimizing the direct intrusion of the state in the economy. Not only a renewed commitment to trade liberalization but initiatives to open financial markets and deregulate national economies most dramatically the preparations for a Single European Market confirm the trend. Fundamental changes in the world economy, captured by the term globalization, underpin the new liberalism. Globaliza

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• Explaining Protectionism

  Rafael Reuveny, William R Thompson•Global Society•2001

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