Factions on the political right and left have resurrected trade protectionism in recent years as a claimed solution to a variety of economic problems. In doing so, these New Protectionists neglect the pronounced interest group characteristics of tariff adoption, and its accompanying tendency to foster political corruption. Most arguments for protection erroneously assume that tariffs emerge in a political vacuum. In reality, political economy considerations present significant complications for the policies that they seek.

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Old Lessons for the New Protectionists

  • Phillip W. Magness

摘要

Factions on the political right and left have resurrected trade protectionism in recent years as a claimed solution to a variety of economic problems. In doing so, these New Protectionists neglect the pronounced interest group characteristics of tariff adoption, and its accompanying tendency to foster political corruption. Most arguments for protection erroneously assume that tariffs emerge in a political vacuum. In reality, political economy considerations present significant complications for the policies that they seek.