Effects of G.A.T.T.
Sir,—Mr Mike Moore says that "protectionism is colossally wasteful.” As the Government’s policies close down our factories and cause good machinery to be scrapped, it is clear that free trade is also “colossally wasteful.” Good economic management requires compromise between conflicting objectives. It is the tragedy of the American G.A.T.T. agreement which drives country after country towards economic bankruptcy that it destroys such compromise and makes increasing freedom of trade the overriding policy of all who allow themselves to be sucked into the general madness. Countries are deprived of adequate means to achieve balance-of-payments equilibrium, sound policies for reducing poverty in the poorer countries are blocked and the sum total of human misery is increased. Mr Moore may applaud G.A.T.T.’s fortieth birthday. I look forward to the overthrow of an organisation which has done great harm.— Yours, etc.,
MARK D. SADLER. December 6, 1987.
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Press, 8 December 1987, Page 16
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147Effects of G.A.T.T. Press, 8 December 1987, Page 16
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