Protectionism has been an enduring feature in the world economy
even though economic theory can prove that free trade is a superior
regime. Protectionism is, of course, caused primarily by interest
groups who lose out under free trade and are able to organize to
protect their interests.This major reference collection brings
together some different theoretical approaches to the issue of
commercial policy and how it is constructed. It also illuminates
some of the complexities behind alternating phases of comparatively
free trade and protectionism in the world economy over the last two
centuries. Individual country studies bring out some variety in the
experience, both in the origins of protectionist policies and of
their impact. The conclusions add up to a considerable indictment
of protectionism.
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