LONDON — A government's first duty is to protect its citizens. So say all the authorities and experts. It sounds simple, but in practice and in real life it is a very complex and problematic matter.
For example, should a government take steps to protect the jobs of its workers from foreign competition? Should it prohibit foreign workers altogether when jobs are scarce? Should a government give special state aid to an ailing sector or industry?
Should a government deliberately devalue, or hold down, its currency so as to gain an export advantage over others? Should a government urge its citizens to buy home-produced goods? Should it raise high barriers against imported goods from countries with lower health and labor standards, or which refuse to restrict carbon emissions?