In spite of all protestations and exhortations it is a fact that trade liberalization, the modern version of free trade, is caught in a crisis. Professor Detlef Lorenz is here analysing the causes of this crisis and suggesting alternatives for a future liberalization policy.

Talks began early in March in Geneva between the members of the extended EEC and their trading partners. These negotiations are being held in accordance with GATT Statute which insists that third countries must be compensated for any disadvantages they may suffer as a consequence of Great...