On the Money: The Banana Wars

Memo from the it's-just-as-nutty-over-there-as-it-is-over-here department: in their trade talks the Europeans have agreed on a free flow of a lot of stuff, including wheat, lawyers and intellectual property, but not bananas. After endless meetings, a banana split hangs over Europe.

This banana split is one small example of how diplomats and economists can promote free trade and all the GATT principles they want, but the basic issues can be talked to death and never get resolved. Like free love, free trade breaks down whenever there are people involved who want to protect their interests -- in this case, bananas.

The Germans...

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