Free Trade or Protectionism
analytical Essay
720 words
The debate between protectionism and free trade is an issue that has been discussed for centuries throughout every nation. The main question is : Are protectionist policies are bad for America? The answer would be “no”. This is due to the fact that, while international competition from businesses benefits individual consumers, it takes away from the American economy. This in turn means America is losing money that can be income for another, or a source of investment that contributes to the growth of the country. The purpose of a protective tariff is to place a tax on foreign goods that are imported to a country as a way to protect domestic industries from international competition. The downside that has been stated is that it is damaging to the consumer since they aren't given the option to purchase the less expensive foreign goods. The benefits of the tariffs is that more money is going into the economy which places the tariff, in this case it is America. This disproves Rothbard's claim that inter-national tariffs are as absurd as inter-state tariffs; inter-states tariffs are absurd because they don't help the national economy, while international tariffs do. The argument for free trade focuses on the benefits for the consumer, but these benefits only last temporarily. Based on the circular flow of the economy, it is known that one's man spending is another man's income. This spending multiplies throughout the economy as the new income generates more income, thus further increasing the GDP of the country. This means that every purchase inside of a country makes the country better off than it was before. While it is hard for a single individual to see the benefits of this, it has a very important effect on the entire country... ... middle of paper ... ...pendence comes from maintaining domestic industries. In order to support these domestic industries, the American people must be loyal to their domestic economy. This comes from the use of protective tariffs to encourage consumption and investments within the country. In conclusion, there are numerous benefits to the use of protective tariffs that affirms the answer to the question stated at the top. The most obvious benefit to using a protective tariff is that it encourages domestic spending which can multiply further throughout the economy. The increase in investments that come from this creates long-run economic growth which foster long-term improvements in the economy. They also encourage foreign manufacturers to improve their goods as a way to increase foreign sales. Finally, it leads to economic autonomy that makes gives a country more control over its economy.
In this essay, the author
- Explains that the debate between protectionism and free trade is an issue that has been discussed for centuries throughout every nation.
- Disproves rothbard's claim that inter-national tariffs are absurd as they don't help the national economy.
- Explains that the argument for free trade focuses on the benefits for the consumer, but these benefits only last temporarily.
- Explains that protective tariffs can benefit individual consumers in a way similar to how free trade gives them lower cost. this benefit comes from the fact that foreign competitors know that the quality of their products matter more.
- Explains that foreign producers selling their cheaper goods to americans is harmful to the economy, but american factories moving to third world countries to hire cheaper labor.
- Analyzes how patrick j. buchanan prefers the title "economic nationalist" instead of a "protectionist". free trade creates global dependence.
- Describes the benefits of protective tariffs, including domestic spending, long-term economic growth, and economic autonomy.
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- The Pros And Cons Of Free Tradeanalytical essayThese thinkers are supporters of protectionism. They believe that the protection of local production increases national welfare and that the regulation of economic life enhances state power or protect a variety of national groups from competition (O’Brien and Williams, 2013).
In this essay, the author
- Explains that liberals believe that free trade benefits everyone, increases efficiency, and raises productivity. smith argued that two countries could benefit from trade if they specialise in goods better than their rivals.
- Explains that states can obtain benefits from free trade policy because of the elimination of tariffs and subsidies.
- Argues that free trade allows individuals to specialise in one thing they can do best, known as comparative advantage theory, and creates efficiencies. liberals believe that specialisation will improve the welfare of an individual country and the world as a whole.
- Argues that the argument against free trade is the undermining of states’ self-improvement of economy and finance.
- Argues that free trade has led to poor working conditions, job losses, trade deficits, and the extinction of valuable businesses.
- Argues that free trade undermines national security. countries need to be self-sufficient in the production of strategic industries such as weapons and food.
- Explains fair trade is a trade agreement to focus on "fair trade" of workers and farmers, the wages, and working conditions of labour in developing markets.
1766 wordsRead More - Protectionism and Free Trade in Americaanalytical essayThe argument regarding protectionism and free trade in America can be traced back to our Founding Fathers. The first significant legislation passed by the First congress in 1789 and signed into law by President Washington on July Fourth was a protectionist tariff that provided for over 90 percent of the revenues to operate the new government and encouraged the building of industries and development of family farms. In contrast, Benjamin Franklin, who understood the danger of trade restrictions said, “No nation is ever ruined by free trade.” The argument has continued throughout history and is a major issue in current politics. To better understand this argument I turned to our most valuable resource, history, and as a result have found free trade with all nations to be the only correct policy for United States government. Tariffs should only be used to fund the necessary functions of government. (Ideally I feel there should be no tariffs or excise taxes.) .”
In this essay, the author
- Argues that tariffs, quotas and other trade barriers artificially raise the cost of foreign goods but they also increase the price that consumers must pay.
- Argues that tariffs, quotas and other trade barriers artificially raise the cost of foreign goods but they also increase the price that consumers must pay.
- Explains that the argument regarding protectionism and free trade in america can be traced back to our founding fathers.
- Argues that free trade is beneficial to consumers, business, and american workers. the lessons from american history for deciding current foreign economic policy are clear.
- Argues that free trade is beneficial to consumers, business, and american workers. the lessons from american history for deciding current foreign economic policy are clear.
2094 wordsRead More - In Support of U.S. Free Tradeanalytical essayIntro: Free trade provides opportunity, it provides growth, and it provides struggling nations a chance. With free trade, markets open across national borders and the consumer ultimately benefits from higher quality goods at fair market prices. The producers of such goods now have larger markets to sell to allowing for the opportunity at increased sales, giving the consumer a greater variety of goods that can more individually meet specific demands. Free trade implementation to the United States foreign policy is a developing and revolutionary mindset that will bring prosperity to all parties involved. The United States will benefit from free trade because the market to purchase U.S. made goods and services will increase dramatically in size, thus increasing trade revenues.
In this essay, the author
- Compares bahrain to the u.s. by size, gdp, and population size. the bahrain/us fta exemplifies how free trade is not one nation taking advantage of the services of another, but two nations working in harmony to specialize industries.
- Explains that free trade has become one of the largest and most controversial topics in american foreign policy due to domestic concerns of a dwindling job market and stagnant unemployment rates.
- Argues that economic decisions cannot be made by policy makers without hard numbers; there needs to be facts behind the arguments.
- Explains that the north american free trade agreement (nafta) is the world's largest free trade agreement by area, linking 450 million people and $19.24 trillion in goods and services produced by the three countries.
- Explains that free trade agreements allow businesses to produce domestically and export to customers in other countries at the same cost as their larger competitors.
- Explains that free trade fosters economic freedom and improves the overall standard of living regardless of socioeconomic class.
- Opines that the positive societal perception of free trade is vital in order to gain widespread support.
- Explains that innovation is fostered through competition, which benefits both the producer and the consumer. america is a unique nation in that most demanded goods are readily available and easy to acquire.
- Opines that the liberalization of trade and the pursuit of free trade agreements promote the rule of law.
- Opines that free trade is a concept that will gain support as the general public becomes more aware of the benefits it has already brought the nation.
- Describes the benefits of u.s. free trade agreements.
- Explains the economic benefits of nafta to the united states and mexico | ncpa.
- Describes the benefits of free trade — a guide for policymakers. the heritage foundation.
- Explains the cato institute's article, "free trade benefits all," by marian l. tupy, washington post.
- Analyzes the washington post's "conflicting views on globalization."
- Analyzes the article, "poll: support for free trade on the rise," by kevin hechtkopf. cbs interactive.
- Analyzes the role of jobs, outsourcing and trade in select critical 2012 contests.
- Cites hackbarth, sean, "reaching 95% of the world's consumers." u.s. chamber of commerce. free enterprise.
- Explains that "trade agreements and jobs." office of the united states trade representative.
- Explains that free trade provides opportunity, growth, and provides struggling nations a chance. the united states will benefit because the market to purchase u.s. made goods and services will increase dramatically in size, increasing trade revenues.
- Argues that both parties agree on the need for trade reform, but the disconnect lies in the proper strategy to execute that will be of greatest value to the american people.
- Explains that the u.s. buys products from foreign countries, benefiting the economies of those countries through purchases made by american consumers.
2876 wordsRead More - Compare And Summary: Free Trade Vs. Protectionismanalytical essayThe History of trade and its relationship to politics, the world’s poor, and the worlds wealthy is deep and extensive. The ideas of free trade vs protectionism have been a part of American history since its origination, but have become most prevalent in its history since the 1800s ( ). The political arguments surrounding it are fierce and passionate, and tend to sway from one side to the other with extreme regularity. There are many schools of thought and often time specific groups of people tend to constantly support the same theory, however the lines tend to get blurry in politics and the publics opinion. Both arguments will be outlined and are not intended to present a persuasive argument for either theory, but rather to offer an education
In this essay, the author
- Analyzes the history of trade and its relationship to politics, the world's poor, and the wealthy. free trade vs. protectionism has been a part of american history since its origins, but have become most prevalent since the 1800s
- Explains the basic ideas behind free trade, including eliminating tariffs and restrictions on imports, and supporting open and competitive trade with many nations.
- Explains that the opposite market system of free trade is protectionism. it supports tariffs and restrictions on imports with the goal of protecting industries and jobs.
- Explains that opposing viewpoints have been present for centuries in our nation's history and across the world. the south was supportive of fewer tariffs and trade restrictions, while the north wanted to impose more to protect jobs in the north.
- Explains that the smoot-hawley tariff act of 1930 continued to create further restrictions. cordell, hull, the secretary of state made a big push to end the high tariffs.
- Explains that after wwii, the general agreement on tarff's and trades (gatt) was established and helped increase the flow of both import and exports into the economy. politicians and economists continue to see the economic benefits of the free trade system.
- Explains that free trade is negatively associated with poverty, food insecurity, and food security.
- Analyzes how the 2006 food crisis shows that the desired effects have not been reached with the current free trade system.
- Explains that free trade has been associated with decreasing poverty, but it does not seem to be a positive solution against work like world hunger and unbalanced distribution of food products.
1163 wordsRead More - Daniel Griswold's Seven Moral Arguments For Free Trade?analytical essayGriswold starts off by explaining that free trade allows for the expression of oneself and that free trade is superior to protectionism as it gives power to the people. Here in America we created this country to give power to the people and not to a centralized machine known as the government. Here Griswold does an effective job at explaining why protectionism is bad based on the unmoral fact in infringes on our rights as a nation, but also violates a basic
In this essay, the author
- Explains daniel griswold's article, "seven moral arguments for free trade," in the cato policy report.
- Analyzes griswold's argument that free trade is superior to protectionism as it gives power to the people.
- Analyzes how griswold's claim that free trade brings the world together is backed up by evidence.
- Analyzes griswold's moral argument for free trade, which is backed by statistics showing improvement in country wealth, gdp, and poverty level.
- Analyzes how griswold's argument can stand on its own as long as facts aren't needed to persuade his audience.
- Explains that they plan to use griswold's points, but back them up with facts to strengthen an already well-worded argument. the three main categories of unity, individuality, and rights should fit well into the paper.
993 wordsRead More - NAFTAopinionated essayNAFTA Since the beginning of civilization, trade has been an important issue. Christopher Columbus sailed to the Americas in search of a faster and safer trade route to India. We as Americans fought for our independence over trade related issues, such as tariffs and rules on with whom we were allowed to export and import goods. Our people have always fought for the rights and ability to buy and sell what they want at a reasonable price.
In this essay, the author
- Explains nafta's advantages and disadvantages, including the ability to do something more efficiently with less labor or resources than another country.
- Opines that nafta has not helped the job market in the u.s. or mexico.
- Explains that american factories are moving across the mexican border where the rules and environmental standards are more slacked, while americans are losing jobs and have a trade deficit with mexico.
- Opines that mexico's maquiladora factories will have to become more spaced out, creating more jobs and raising the wages of mexican workers.
- Explains that they have always had a negative opinion of nafta, but they were surprisingly reaffirmed in their previous opinion.
- Explains the purpose of the north american free trade agreement (nafta) in article 102: objectives.
- Argues that nafta has enriched international corporations, but it hasn't brought much benefit to workers or the environment. the us has lost 766,000 jobs due to the agreement, while mexico has seen a nearly 21% drop in manufacturing wages.
- Opines that nafta has done more harm or good since its implementation. the us trade surplus with mexico quickly turned into a deficit, and at least half-million jobs have been lost.
- Describes the key points to remember regarding the north american free trade agreement.
- Explains the north american free trade agreement (nafta): deepening economic integration and resposes to competition.
2320 wordsRead More - Free Tradeanalytical essayWhat is free trade? Many American’s have a broad and sometimes-false idea of what free trade actually is. Free trade “refers to the economic philosophy and practice of reducing barriers such as tariffs, taxes, subsidies and quotas so that raw materials, goods and services can move unhampered across national borders.” (68) Various options have arisen about whether or not free trade benefits developing counties or not. I believe that free trade is not favorable or helpful towards developing counties. Free trade benefits few but not the masses, is in favor of rich companies with large corporations, means a loss of power and political control on a national, regional and local levels of government, as well as allows for child labor and there for loses out economically. Many people here in the United States are not well informed about Free Trade or its drawbacks. By giving people the information and steering them toward a better form of trade such as Fair Trade we could possible help those other counties that are dealing with the effects of free trade.
In this essay, the author
- Explains that many americans have a broad and sometimes-false idea of what free trade actually is. free trade benefits few but not the masses, is in favor of rich companies with large corporations, and allows for child labor.
- Argues that free trade benefits few but not the masses. the us will benefit from cheap labor and low tariff cost, but the workers in the countries where the product is being manufactured will not benefit.
- Explains that free trade rules and agreements favor rich companies with large corporations. rich counties also put high tariffs on foreign goods, which are called, protectionism.
- Argues that free trade arguments also mean a loss of power and poetical control at the nation, regional, and local levels of government.
- Analyzes how ha-joon changs' article, "my six-year-old son should get a job: is free trade always the answer," discusses the justifications other countries have for child labor and how free trade protects these ideals.
- Opines that many american's are un-educated and have misconceptions about what free trade is and what it means for them.
- Explains how free trade isn't working for developing counties in employment and industry. mexico for example, when tariffs were lowed it wiped out tons of industries, causing losses in jobs and economic decrees.
- Proposes that rich nations should be more morally accountable for manufacturing companies they have around the world.
1377 wordsRead More - The American Reaction to Richard Cobden: An Economy of Fearanalytical essayThe economic concept of protectionism dates back to Adam Smith’s idea of comparative and absolute advantage. The country with the ability to produce the same amount of a good or service with fewer resources than another country has the absolute advantage. However, if the other country has a lower opportunity cost of producing that same good or service, they have the comparative advantage. Smith argued that “If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it of them with some part of the produce of our own industry employed in a way in which we have some advantage” (Smith, 1904, IV.2.12).
In this essay, the author
- Analyzes how the paper will explore the free trade beliefs of richard cobden and show that americans who rejected his ideas did so out of ignorance and fear.
- Explains that trade liberalization in great britain signaled an era of intense change in the european economy.
- Explains how richard cobden formed the anti-corn laws league in response to the corn laws. he advocated for free trade so that consumers could have access to corn at a fair price.
- Explains that the 1860s were a period of great unrest in the united states. the antithesis to anglophobia was anglophilia.
- Explains that the cobden club was founded in 1866 by british supporters of his free trade mantra. it appealed to many americans recovering from the shock of war.
- Explains accominotti, flandreau, and palen's views on trade liberalization in the nineteenth century.
- Explains that the cobden club held its inaugural meeting at the star.
1607 wordsRead More - Reducing Barriers to Free Tradeanalytical essayIntroduction Free trade has long be seen by economists as being essential in promoting effective use of natural resources, employment, reduction of poverty and diversity of products for consumers. But the concept of free trade has had many barriers to over come. Including government practices by developed countries, under public and corporate pressures, to protect domestic firms from cheap foreign products. But as history has shown us time and time again is that protectionist measures imposed by governments has almost always had negative effects on the local and world economies.
In this essay, the author
- Opines that free trade is the most beneficial way for all nations to achieve economic growth. the world trade organization is a critical component in helping to ensure fair trade.
- Argues that free trade is essential in promoting effective use of natural resources, employment, reduction of poverty, and diversity of products for consumers.
- Opines that free trade is growing, and that governments must support it by modifying current trade policies to remove barriers.
- Argues that free trade is based on the comparative-advantage of lower productivity and higher standard of living, and consumers benefit from more diversity and cheaper prices.
- Explains that many developing countries still see inconsistences with their ability to get into the international market place, whereas the advanced countries view that they need to make changes slowly and in incremental steps.
- Explains that developing countries looked at import substitution and export-led growth to achieve economic growth.
1672 wordsRead More - The Downward Sprial of the United States Economyanalytical essay...arriers America would see an increase in profit by another fifty percent (United “Economy”). So instead of closing international trade borders, Americans should be thinking about the positive aspects of foreign trade. Americans need to realize how important importation is to the national economy and that without it the United States would not be the great country that it is today.
In this essay, the author
- Opines that if the us closed off borders to foreign trade, the transportation industry would suffer economic hardships and jobs would be lost.
- Argues that if the us closed off its borders to foreign trade, it would increase its standard of living and make america more profitable.
- Opines that americans should be thinking about the positive aspects of foreign trade instead of closing international trade borders.
- Analyzes how asce assesses infrastructure crisis. proquest research library. lugar, dick. the story of oil: top 10 questions about the history, development, and problems of
905 wordsRead More