Mercosur trade bloc turns its back on Adam Smith - The Globe and Mail: With its new targeted tariffs, Latin trade bloc Mercosur still appears to be searching for alternatives to Adam Smith’s free-trade economics. Since the group’s members are all led by left-of-centre politicians, this isn’t wholly surprising. But because Mercosur nations have oodles of commodities and relatively uncompetitive manufacturing, the risk of economic experimentation is a backslide toward poverty.
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