USA Today reports that Treasury Secretary Henry Paulson warned against protectionism as being especially harmful in this economic crisis. Of course the most protected segment of the U.S. economy are highly educated professionals like doctors and lawyers who enjoy the protection of a wide range of institutional and legal barriers that make it difficult for foreign professionals to compete. So, does Paulson plan a major initiative to combat professional protectionism in the waning days of the Bush administration? Reporters should be asking.
--Dean Baker
