Pros and Cons of Protectionism

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Essay #: 065678
Total text length is 10,006 characters (approximately 6.9 pages).

Excerpts from the Paper

The beginning:
Pros and Cons of Protectionism
This paper will discuss the arguments for and against protectionist trade policies. It defines protectionism broadly, as any government initiative to give preference or advantage to local industries over foreign ones: tariffs, quotas, agreed "restraints," monetary policy, and regulatory manipulation. It concentrates on cause and effect in the real world, rather than in abstract formulations, recognizing that arguments by professional economists are nearly always oversimplified; in particular, they fail to take social and political "costs" into account. However, since the question asks which policy is superior "when all parties are considered" (our emphasis), we cannot remain in the realm of theory.
We will...
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