Essays on Protectionism

Effects on Trends in Trade Policy from 1850-1914 The modernizing world of 1850-1870 belonged to an age of remarkable growth in international trade, stimulating the largest free market the world had ever seen. Yet by 1914, only 30 years later, the trend towards liberal trade policies had mostly ended, replaced by a revival of the…

Free trade is a government policy that promotes specialization, efficiency, and increased production by not discriminating against imports or exports and not mandating the elimination of import and export tariffs and duties. When trading partners have freedom, they are less likely to participate in warfare against each other. In an open market, a nation’s capital…

The global economy: Most economists now talk about the global economy, where the economies of individual countries are linked to each other and changes in a single economy can have ripple effects on other. The aggregate value of all goods and services produced worldwide each year in the global economy is known as gross World…

The fine line that used to separate human beings from animals was the phenomenon of speech and imagination. But the great divide between the two was human ability to define and build a culture. What really is a culture? Culture in many forms is defined by language and behavior as key elements. In the words…

International Trade can be viewed as a voluntary exchange of mutual advantage in that countries engaged in trade take and give something beneficial in return to their trading partners. While international trade is thus conducted voluntarily, the World Trade Organization has emerged in the international system raising questions as to its necessity in the global…