The current book launch by Sylvia Naser, author of "A Beautiful Mind", is drawing some attention in prominent economic circles. Bloomberg are currently publishing a series of short extracts:
The Beautiful Minds That Created Modern Economics
Webb, Churchill and the Birth of the Welfare State
Keynes, Schumpeter and the Great Post-War Mistake
Fisher, the Crash and ‘Economics of the Whole’
Hayek, Keynes and preventing economic crises
When it comes to economic history there often appear black holes in memory of even recent events let alone those a century or more ago. An interesting chart of the very long term GDP share over some centuries should put the more recent growth in China and India in some perspective.
levels it reached pre- WW1. The export component of GDP in Victorian UK was astounding. A substantial component of more recent growth is in intra-Asian trade. That has correlated with a massive lift out of poverty in China and India. The link above on the 'Great Post-War Mistake' maybe relevant.
On that theme a comment from US liberal Democrat Keynesian Nobel laureate Paul Krugman: "The raw fact is that every successful example of economic development this past century--every case of a poor nation that worked its way up to a more or less decent, or at least dramatically better, standard of living--has taken place via globalization; that is, by producing for the world market rather than trying for self-sufficiency."
Given the overwhelming economic evidence, it becomes a moral question as much as economic? The case for protection and self-sufficiency is self-interested inhumanity?