“I agree with Paul Samuelson, the very famous economist, who has recently spoken and written about how comparative advantage, as it is classically understood, may not be descriptive of the 21st century economy.”
That was Hillary Clinton telling us in an interview published on Monday why she wants a “time-out” on trade liberalisation. This pause ought to apply, she said, not just to the bilateral deals she has already questioned, but to the Doha round of multilateral trade talks as well. “[S]pecifically with Doha and with these large global agreements, again we have to see what works and what doesn’t.”

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