Unwise Laws: A Consideration of the Operations of a Protective Tariff Upon Industry, Commerce, and Society (Classic Reprint) - Softcover

Lewis H. Blair

 
9781330731376: Unwise Laws: A Consideration of the Operations of a Protective Tariff Upon Industry, Commerce, and Society (Classic Reprint)

Synopsis

This book is an exploration of unwise and special laws throughout history, arguing that laws which discriminate and favor some interest or group are always unjust and, therefore, ultimately harmful to a nation. The author goes on to show how these laws took hold in the US, examining their impact on the nature of industry and social organization, showing how these special laws are the source of instability in the nation's commercial and economic affairs. The author posits that the main culprit in this realm is protectionist legislation which creates artificial scarcity, and hence higher prices for goods, and this stimulates production to the point of creating bubbles that invariably burst. The author convincingly argues that protectionism creates instability and is the primary cause of economic crises, panics, and depressions. The book concludes by examining how and why this system of unwise laws has persisted, despite its negative consequences for society, offering insights into the nature of special interests and their influence on government.

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