Neal Lipschutz is attending the World Economic Forum in Davos, Switzerland.
In a debate at the World Economic Forum about the threat of global protectionism, Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, managed to take on Thomas Jefferson.
He said the Jeffersonian notion that farming was a superior form of life has led to subsidies and protectionism in the U.S.
Similar problems exist in the European Union. Saying EU agricultural policy is “ridiculous,” Frank claimed European farmers should be bought out.
The idea that the “noble yeoman” must be protected at all costs leads to protectionism, Frank said.