The Beggar-Thy-Neighbor Test
As an international economic-policy goal, hyper-globalization floundered largely because of its advocates’ ambition to overregulate measures with any kind of cross-border effects. A far better approach is to focus only on policies that deliver domestic gains wholly at the expense of others.
https://prosyn.org/J3aNQFM
CAMBRIDGE – With all major trading countries increasingly resorting to unilateral action to advance their own social, economic, environmental, and security goals, the world economy desperately needs a clear normative framework to determine the rules of the road. A useful starting point is for everyone to agree, in principle, not to deploy beggar-thy-neighbor policies.