Interference With Foreign Trade : A Supplementary Chapter to Elements of Political Economy (Classic Reprint)

James Bonar

ISBN 10: 1332418554 / ISBN 13: 9781332418558

Published by Forgotten Books, 2015

About this Item

Zustand: Sehr gut | Sprache: Englisch | Produktart: Bücher | Keine Beschreibung verfügbar.

Seller Inventory # 26105354/2

Bibliographic Details

• Title: Interference With Foreign Trade : A Supplementary Chapter to Elements of Political Economy (Classic Reprint)
• Publisher: Forgotten Books
• Publication Date: 2015
• Language: English
• ISBN 10: 1332418554
• ISBN 13: 9781332418558
• Binding: Soft cover
• Condition: Sehr gut
• Seller catalogs:
  • Bücher

About this title

Synopsis

This book analyzes the economic history of trade and commerce, particularly examining foreign trade and interference with that trade by governments. While the author illustrates his points historically, he argues that the insights from this history are still applicable today. The author argues that governments often involve themselves in foreign trade in order to protect home industry, but that this protectionism comes with significant drawbacks. First, protectionism prevents weak sellers from being replaced by strong sellers, thus preserving inefficient businesses. Second, protectionism generally does not stop piracy, but rather raises prices for everyone. Third, protectionism fosters monopolies, which can lead to further inefficiency and injustice. The author thus advocates for free trade, arguing that it leads to greater abundance and variety of goods at lower prices for consumers. This policy also tends to increase the productivity and efficiency of businesses, leading to greater economic growth for the country as a whole.

About the Author

James Bonar (1852-1941) was an English economist and a leading authority on Malthus and Adam Smith.