Protectionism

What are your views on protectionism? 

pro·tec·tion·ism 

What are your views on protectionism? 

pro·tec·tion·ism 

n.The advocacy, system, or theory of protecting domestic producers by impeding or limiting, as by tariffs or quotas, the importation of foreign goods and services. nomsayin

As a response to a another country or competitor 'cheating' like China....I think it's fine.

Just out of the blue protectionism is very dangerous.

How can it ever hurtdave123321

That is a really stupid economic policy.

[QUOTE="dave123321"]How can it ever hurtnomsayin

[QUOTE="nomsayin"][QUOTE="dave123321"]How can it ever hurtdave123321

You need a good balance of justified and beneficial protectionism and globalization to have a healthy, competitive, vibrant and open market.GazaAli

Not a fan of America's current state of simply being a consumer nation. Fightingfan

[QUOTE="GazaAli"]You need a good balance of justified and beneficial protectionism and globalization to have a healthy, competitive, vibrant and open market.deeliman

[QUOTE="Fightingfan"]Not a fan of America's current state of simply being a consumer nation. EagleEyedOne

The free market should remain free.foxhound_fox

[QUOTE="EagleEyedOne"]

[QUOTE="Fightingfan"]Not a fan of America's current state of simply being a consumer nation. Fightingfan

Murica's not a free market. Fightingfan

[QUOTE="deeliman"][QUOTE="GazaAli"]You need a good balance of justified and beneficial protectionism and globalization to have a healthy, competitive, vibrant and open market.GazaAli

[QUOTE="deeliman"][QUOTE="GazaAli"]You need a good balance of justified and beneficial protectionism and globalization to have a healthy, competitive, vibrant and open market.GazaAli

It also depreciates your currency since no other countries are able to use it productively. All other goods in the world become more expensive.

It's completely economically unjustifiable and will usually result in inferior living standards over the long term for most of the population.

Someone explain the broken window fallacy for me. In Texas termsdave123321

Someone explain the broken window fallacy for me. In Texas termsdave123321

[QUOTE="dave123321"]Someone explain the broken window fallacy for me. In Texas termsdeeliman

[QUOTE="EagleEyedOne"][QUOTE="famicommander"]Anyone who advocates protectionism doesn't understand the broken window fallacy. Read "Economics in One Lesson" by Henry Hazlitt.famicommander

[QUOTE="LJS9502_basic"][QUOTE="EagleEyedOne"] The only way you would be able to import cheap goods is if your currency is worth more than the country in question. That would imply your economy is strong enough to support high interest rates. This is never the case with closed economies.EagleEyedOne

You're identifying a result, LJ is identifying a cause. It's not at its root about money, since if countries were otherwise identical then purchasing power parity would indeed hold.

[QUOTE="EagleEyedOne"][QUOTE="LJS9502_basic"] Not entirely. Labor is a big cost of production and a country that doesn't pay much for labor will be able to under cut domestic production.chessmaster1989

You're identifying a result, LJ is identifying a cause. It's not at its root about money, since if countries were otherwise identical then purchasing power parity would indeed hold.

[QUOTE="chessmaster1989"]

[QUOTE="EagleEyedOne"] It still depends on how cheap your currency is.EagleEyedOne

You're identifying a result, LJ is identifying a cause. It's not at its root about money, since if countries were otherwise identical then purchasing power parity would indeed hold.

[QUOTE="EagleEyedOne"][QUOTE="chessmaster1989"]

You're identifying a result, LJ is identifying a cause. It's not at its root about money, since if countries were otherwise identical then purchasing power parity would indeed hold.

chessmaster1989