Time to End Rampant Mercantilism
Global innovation has the potential to let all countries grow their economies but only if nations eliminate harmful mercantilist policies.
For many countries it has become traditional wisdom that economic prosperity is best achieved through an export-oriented growth strategy. Yet as ITIF president Rob Atkinson describes in a recent article in G8/G20 Magazine, this model may work for small economies it is unsustainable for large emerging countries such as China, Brazil, and India. Moreover, the mercantilist tactics pursued by these nations, which are designed to give their products a subsidy in the global marketplace, actually hinder innovation within these nations and retard global commerce.
