Tag: protectionism

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Trade, Tariffs, and some Basic Economics

Why does trade occur? Fundamentally, trade takes place in order to better the lives of those participating in the trade. You trade money for food because you are hungry and money doesn’t taste very good. Each party values what they are trading away less than what they are receiving in return. That is why the …

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“Protectionism” Only Protects Special Interests

Protectionism exists in many facets of the economy and is essentially the use of taxes, regulations, or other means to disincentivize, restrict, or prohibit trade. The idea is simple: I am the only widget maker in town and I get the town council to levy a 50 percent tax on any widgets that are manufactured …

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