mrstickball on 18 September 2011
Protectionism is retarded, and a throwback to 1930's thinking which helped cause the depression.
Look at Smoot-Hawley. It was supposed to benefit our economy, but trade is a two way street. It is very rare that a country can do something to promote domestic production and discourage foreign purchasing. Most of the time, when tariffs are used, they are reciprocated which means that less goods are exported, too.
Back from the dead, I'm afraid.
