Again, nobody knows, it’s too early to know what he’s going to do exactly, but protectionism, right now, is clearly a bad idea. We live in a world where productivity and innovation (the output of innovation, the spread of innovation) are what matters to ensure prosperity.
The figure is drawn from a recent study of 20 industrial countries by the International Monetary Fund (IMF) (Fatás and others, 2009) and replicated by Board staff.