Search results
- National Security Argument. National security protectionist arguments pertain to the risk of dependency upon other nations for economic sustainability. learning objectives.
- Infant Industry Argument. Economic markets are inherently competitive and newer economies are vulnerable to their more developed counterparts in other countries.
- Unfair Competition Argument. One of the strongest arguments for trade protectionism is unfair competition emerging due to differences in policy and enforcement ability.
- Jobs Argument. Many policy makers who are proponents of trade protectionism argue that limiting imports will create or save more jobs at home. learning objectives.
Dumping: Selling goods at less than their normal price, especially in the export market as a means of securing a monopoly. Protectionist policies are a highly charged topic in economic debates, as economies work to attain the optimal balance of free trade and trade protectionism to capture the most value.
- Protectionism Definition
- Protectionism Methods
- Protectionism vs. Free Trade
- Protectionism Pros and Cons
- Sources and Further Reading
Protectionism is a defensive, often politically-motivated, policy intended to shield a country’s businesses, industries, and workers from foreign competition through the imposition of trade barriers such as tariffs and quotason imported goods and services, along with other government regulations. Protectionism is considered to be the opposite of fr...
Traditionally, governments employ four main methods of implementing protectionist policies: import tariffs, import quotas, product standards, and subsidies.
Free trade—the opposite of protectionism—is a policy of completely unrestricted trade between countries. Devoid of protectionist restrictions like tariffs or quotas, free trade allows goods to move freely across borders. While both total protectionism and free trade have been tried in the past, the results were usually harmful. As a result, multila...
In poor or emerging countries, strict protectionist policies like high tariffs and embargoes on imports can help their new industries grow by protecting them from foreign competition. Protectionist policies also help create new jobs for local workers. Protected by tariffs and quotas, and bolstered by government subsidies, domestic industries are ab...
Irwin, Douglas (2017), "Peddling Protectionism: Smoot-Hawley and the Great Depression," Princeton University Press.Irwin, Douglas A., "Tariffs and Growth in Late Nineteenth-Century America." World Economy. (2001-01-01). ISSN 1467-9701.Hufbauer, Gary C., and Kimberly A. Elliott. "Measuring the Costs of Protectionism in the United States." Institute for International Economics, 1994.C. Feenstra, Robert; M. Taylor, Alan. "Globalization in an Age of Crisis: Multilateral Economic Cooperation in the Twenty-First Century." National Bureau of Economic Research. ISBN: 978-0-226-03075-3- Robert Longley
Mar 1, 2017 · Economic theory stipulates that free trade makes everything cheaper and improves the quality of products, ... Another strong argument in favour of protectionism follows the logic of Game Theory ...
- Alexander Tziamalis
May 31, 2024 · Traditionally, protectionism is a left-wing policy. Right-wing politics generally support free trade, which is the opposite of a protectionist stance. Left-wing politics support economic populism ...
Protectionism refers to governmental actions interfering in international trade to achieve economic, social, and political objectives (based on Daniels et al., 2021, p. 224) Fig. 6.1 Reasons for protectionism, own table based on content from Daniels et al. (2021), 224– 223, Hill (2021), pp. 209–213, and own insights.
People also ask
What are the strongest arguments for trade protectionism?
What is trade protectionism?
What are the arguments for protectionism?
What is the difference between protectionism and free trade?
The arguments for protectionism are divided into two groups. Domestic rationales focus on the desired effects of protection on attaining various objectives within the home country. These objectives may be economic, such as addressing domestic market failures, or non-economic, such as promoting national security.
