Protectionism Will Hurt - No Exceptions for Intentions

France is currently trying to put a stop to the acquistion of Gaz de France by the Italian firm Enel. Spain is trying to protect Endesa from a German company, E.on. This continues a long traditional of economic protectionism and illogic in Europe. (They staunchly defend unifying their currency, but oppose unifying some private businesses? Hmm.) Of course it is not the only reason, but this is one of the contributors to the dismal performance of European economies in recent times. Is this the road that the US really wants to follow? This is precisely what we are doing by clamoring for the kiboshing of the Dubai Ports World acquistion of P&O. Now, the Europeans have their reasons, their bad reasons, for maintaining this sort of policy, homeland security just just isn't it (well actually it is in a sense, if protecting some crazy abstract notion of "Frenchness" offers some a warm secure feeling). But just because homeland security is our bad reason for pursuing protectionism, we have to understand that the outcome will be the same as we see in Europe. The laws of economics and the workings of capitalism will not distinguish between bad reasons, protectionist policy will have its inevitable result regardless of why it was entered into. Here's hoping this flap dies down like every other flap that the media has tried to make stick on the administration, and we don't follow Europe down the road of sclerotic and destructive economic policy.