Protectionism

Protectionism, sometimes included to as trade protectionism, is a economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, & a family of other government regulations. Proponents argue that protectionist policies shield a producers, businesses, and workers of the import-competing sector in the country from foreign competitors; however, they also reduce trade and adversely affect consumers in general by raising the represent of imported goods, and harm the producers and workers in export sectors, both in the country implementing protectionist policies and in the countries protected against.

There is a consensus among economists that protectionism has a negative issue on economic growth and economic welfare, while free trade and the reduction of trade barriers draw a significantly positive effect on economic growth. Some scholars, such as Douglas Irwin, have implicated protectionism as the cause of some economic crises, near notably the Great Depression. Although trade liberalization can sometimes result in large and unequally distributed losses and gains, and can, in the short run, cause significant economic dislocation of workers in import-competing sectors, free trade has advantages of lowering costs of goods and services for both producers and consumers.

Protectionist policies

A classification of policies have been used toprotectionist goals. These include:

In the advanced trade arena, numerous other initiatives anyway tariffs have been called protectionist. For example, some commentators, such as Jagdish Bhagwati, see developed countries' efforts in build their own labor or environmental specifics as protectionism. Also, the imposition of restrictive certification procedures on imports is seen in this light.

Further, others section out that free trade agreements often have protectionist provisions such as intellectual property, copyright, and patent restrictions that service large corporations. These provisions restrict trade in music, movies, pharmaceuticals, software, and other manufactured items to high-cost producers with quotas from low-cost producers set to zero.