The economic argument for protectionism

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Reference no: EM131171556

The economic argument for protectionism is that it preserves jobs, protects a nation's political security, discourages dependency on other countries, and:

1- strengthens the economy by encouraging a balance of trade.

2- instills a sense of nationalism, which in turn protects economic stability.

3- encourages the development of domestic industries.

4- creates a more loyal and hardworking domestic workforce.

5- lowers prices for domestic consumers.

Reference no: EM131171556

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