Taking its cue from the NCAA March Madness basketball tournament, the Cato Institute recently sponsored a Protectionist Madness contest that pitted 32 harmful protectionist US trade policies against one another. As reported by Scott Lincicome, after seven rounds and 31 head-to-head “games,” the Jones Act was found to be the worst of the lot. For those not aware of the Jones Act, which outpolled “Buy American” in the finale by more than two-to-one, the tournament page summarized it: “This 1920 law restricts the transportation of goods between domestic ports to vessels that are US-built, US-flagged, and mostly US-owned and ‑crewed.”
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