IF a common man is questioned “can protectionism ever be justified” he’d probably say NO, we live in a world of globalisation and there won’t be many who agree with the term protectionism is today’s day, its mostly considered as an “economic bad” . You will easily find governments who say ‘I am in favor of globalisation’ but rarely will u ever find a nation which says “we are for protectionism” and that’s probably the most basic difference between the two.
Let’s start with understanding protectionism before we debate if it’s even justifiable or not? Protectionism may be defined as (Block,W. and McGee,R.W. 1997) “any policy that is intended to shield domestic industries from import competition (Dolan and Lindsey, 1994, p. 826)” Protectionism is merely an attempt by a countries government to restrict trade in goods and services with other countries. It’s based on a notion that imports are detrimental to an economy and its citizens. Protectionism intends to protect Domestic Industries and increase in labour wages, increase domestic production and help to solve the balance of trade issues that many countries face. (Davies,S. october 2011) Moreover, the forms that protectionism take vary considerably. Some of the most commonly used measures of protectionism are as follows:
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and Ringe,W-G. (2010) “The overwhelming majority of developed economies are in principle against protectionism and yet we can all see that it exists” Lets den try and understand the reasons, causes, when and why would protectionism be justified? (Lambsdorff,O.G summer 2007) “Yes, protectionism is a promising tool for domestic producers to safeguard their margins”? Wong,Y.Y and Chan,P.S 1993) “The influx not only represents a loss of domestic finished product market, but also a loss of a large number of jobs. In response to the crisis, the USA repeatedly implemented protective measures.” Here we can see how both Sir Lambsdorff and Sir Wong, tell us the most basic and the most and common reason behind protectionism, is that countries will adopt protectionist measures during economic crises to increase demand for domestically produced goods, to protect the jobs of their citizens. Any nation worried that their own industries will suffer because of imports, will resort to protectionism to protect themselves. They will subsidise their industries, to help increase the export, there by securing jobs, industries and solving the balance of payment
Four major drug control laws enacted by federal government since 1900 are listed as follows: 1906 Pure food and Drug Act – Consequently,” the new law did not possibly harmful drugs in patented medicines from being sold” (Levinthal,2012). Nevertheless, it only required that manufacturers classify specific drugs that might be delimited in these untested medicines. The Harrison Narcotics Act of 1914: Nevertheless, “at first everyone was required to- importing, manufacturing, selling or dispensing cocaine or opiate drugs to register with the treasury department” (Levinthal,2012). However, they must pay a special tax and keep records. Theoretically, the Harrison Act did not make opiates and cocaine illegal.
Protective tariffs are a high tax put on imports proposed by Alexander Hamilton. They also wanted to form alliances with the British because they like the stability British had. Even more,
Internal Improvements and Protective Tariffs One of the main points of Henry Clay’s American System, the necessity of subsidies for internal improvements and protective tariffs, was a source of debate between Jackson and Clay. While in Senate Jackson voted for protective tariffs and internal improvement bills, but soon “became convinced that the internal improvement policies favored by his enemies were a species of corruption and an outrageous drain on the treasury” . When the Maysville Road project was proposed that would build a highway across Kentucky, Jackson was quick to veto the bill. He viewed the issue of the road as a local, not national issue, therefore making it unconstitutional. Clay, borrowing a line from Hamilton, argued the road was a national issue and cited the necessary and proper clause.
(98). For instance, Britain was only concerned about protection when it benefited on their account. America was forced to fight in Britain's wars, creating new unnecessary enemies. When war comes around America's trade is punished because of the connection with Britain.
Hamilton’s policy was conversely more protectionist. He wanted to impose greater duties and embargoes on foreign imports of goods that could also be produced in the United States. Hamilton strove for a largely domestic system of production through which the benefits of domestic manufacture would far outweigh the costs. By producing goods internally, which would otherwise have been imported, the U.S. economy would thrive because of increased domestic competition where the gains from productivity would benefit all domestic industry. The increase in domestic producers would result in the secondary effects of more jobs, providing more opportunities for merchants to export American goods
According to economic explanation,protectionism refers to the economic policy of restraining trade between countries through tariffs on imported goods and other government regulations. So why the north wanted restrictive policy while the south demanded free
For example, the Fordney-McCumber Tariffs Act was enforced by the U.S department of state to protect businesses in the U.S. According to the Department of State, claims, “The Fordney-McCumber Tariffs Arc raised tariffs above the level set in 1913; it also authorized the president to raise and lower a given tariff rate by 50% to even out foreign and domestic production costs.” This presents the purpose of the enforcement of the Fordney-McCumber Tariffs Act. Another incident that was the cause of tariffs was a decline in every economic value in America, According to the article, Tax foundation, it states, “Historical evidence shows tariffs raise prices and reduce available quantities of good and services for U.S businesses and consumers, which resulted in lower income, reduced employment, and lower economic output.” Also, the Smoot-Hawley Tariff Act worsened the economic problems the U.S was already facing.
The protective tariff protects us product from other countries. Britain dumped the their products in the U.S. The central government got move over the states. Maryland tried to tax its national bank. Court ruled that a state cannot pass any laws that violate federal law.
Warfare is a very controversial topic and when speaking on any war, one cannot possibly state that one isolated event solely attributed to its start. From the time students are introduced to the War of 1812 in high school, it has mainly been taught that the War of 1812 was caused by the taking hostage of American sailors by the British Navy. While American sailors being taken hostage may have been a major breaking point that ultimately set the tone for the declaration of the War of 1812, there were many other incidents that added fuel to an already burning fire. In this paper the writer will set out to discuss the events that seemingly had a part in the start of the War of 1812 and how the United States was affected after the war ended.
A few years ago in 1807, congress had passed the Embargo Act, an act that forbids foreign trade. Today, a few years from that day in 1807 we look back on the preoccupations that have occurred because of the act. In just one year we saw our U.S exports decline by $84,000,000. We started with $109,000,000 and ended with $25,000,000.Thousands of Americans have turned to smuggling. The Embargo has trigger a serious Economic Depression and not much can save us right now.
Imperialism was not justified for multiple reasons because imperialism did improve the lives of many natives and increased global trade, but the majority of the world ended up hurting from it. The negatives outway the positives
The aim of the protective tariffs was that the American market obtaining manufacture products were profitable. This was encourage of an industrial revolution after the Civil War and by putting import tax on manufacture goods that were imported in the United States
One if the greatest advantage is transferring new technology between countries, which is incredibly beneficial for the development of nations. One of the biggest disadvantages is precisely when easy access to incoming technology is not allowed. Take for instance Ecuador, a developing country, which products cannot compete with those from developed countries in terms of quality, advanced technology, know-how, and price. In order to stimulate local consumption and decrease the amount of money transferred abroad, Ecuador’s government has set several policies, which has considerable effect on imports. Some of those policies are: imports quota and tariff safeguards.
America is known by many to be the best countries in the world but there are still many things that stand in the way of the american dream (Stealing From America). One of these things is corporate lobbyist. These people have slowly taken over american democracy with pay to play corruption and giant lobbying teams (The Atlantic). Nowadays unions and protest have been much less successful in stopping the behemoth that is a corporate lobbying team(Secular Talk). Corporation will continue to grow wealth inequality in america if we do nothing about it.
The theory of Hofstede says that the framework of cross cultural communication it’s described the effects on the culture of the society on the values of its members. Culture has been unclear in a many ways, Hofstede also says that culture as collective programming of the mind it is distinguished group or category of people from another. Also, he explains culture as the software of the mind and he identifies 3 aspects of human mental: human nature, personality and culture. Trompenaas definition is a model of differences in national cultures that model, it’s included 7 areas that are used to identify how people from different nations and cultures are interrupted with each others.