Liberal international economic order dead?

The US never accepted the classical liberal case for free trade

With the UK’s Brexit and Donald Trump’s accession to the US Presidency, many commentators see the demise of a liberal international economic order (LIEO), first created by the UK in the 19th century which died on the fields of Flanders in 1914-18, and recreated by the US after the Second World War. 

The first point to note is that the term “liberal” meant different things in the UK and US LIEOs. The UK’s 19th century LIEO was based on the principles of classical liberalism as expounded by Adam Smith, David Hume and J S Mill: Free trade, laissez-faire, free mobility of