nts, however, have cut off Western markets for these countries, making it virtually impossible for them to earn the hard currencies necessary to repay their loans. This increases the very real possibility of a collapse of the world banking system. PROTECTIONISM: WHO GAINS? In spite of evidence of damage caused by trade restrictions, pressure for more ``protectionist'' laws persists. Who is behind this, and why? Those who gain from ``protectionist'' laws are special-interest groups, such as some big corporations, unions, and farmers' groups -- all of whom would like to get away with charging higher prices and getting higher wages than they could expect in a free marketplace. These special-interests have the money and political clout for influencing politicians to pass laws favorable to them. Politicians in turn play on the fears of uninformed voters to rally support for these laws. THE LOSERS? YOU and all other ordinary consumers. Your freedom is being trampled into the dust by these laws, and you are literally being robbed, through taxes and higher prices, in order to line the pockets of a few politically-privileged ``fat cats''. ``Protectionism is a misnomer. The only people protected by tariffs, quotas and trade restrictions are those engaged in uneconomic and wasteful activity. Free trade is the only philosophy compatible with international peace and prosperity.'' Dr. Walter Block Senior Economist, The Fraser Institute (Canada) TRADE WARS -- BOTH SIDES LOSE When the government of Country ``A'' puts up trade barriers against the goods of Country ``B'', the government of Country ``B'' will naturally retaliate by erecting trade barriers against the goods of Country ``A''. The result? A trade war in which both sides lose. But all too often a depressed economy is not the only negative outcome of a trade war . . . WHEN GOODS DON'T CROSS BORDERS -- ARMIES OFTEN DO History is not lacking in examples of cold trade wars escalating into hot sho...
