“You cannot protect something by building a fence around it and thinking that this will help it survive.” Wim Wenders In America there is a push to provide protectionist status to American positions to ensure the viability of American business as well as American jobs. Does this idea make sense for the entrepreneur? The Internet has provided a means of…
Tag: Protectionism
The Protectionism Delusion
Economists through years of study and practice have concluded that through free trade, based on the principal of comparative advantage, the world economy can achieve a more efficient allocation of resources and a higher level of material well-being. On the other hand, protectionism measures-barriers to free trade-lessen or eliminate gains from specialization. Trying to satisfy diverse wants, nations shift resources…