Word: protectionism
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Dates: during 1880-1889
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Best short references.- Cairnes, Leading Principles, pp. 406 7; Fawcett's Free Trade and Protection, pp. 91-98.
I. The civilizing benefits of diversity of industry are not due to protection.- Cairnes Leading Principles, bk. III., ch. IV., and 7; Fawcett's Free Trade and Protection, p. 91.
II. On the contrary, protection annihilates the greatest civilizing element, international trade.- Cairnes, ibid.
III. Protection encourages (a) ideas of socialism, and, (b) among protectionists, false ideas of what the government's relation to them ought to be. The labor problem is made more difficult.- Fawcett, ibid, E. L. Godkin, in New Princeton Review for March, 1887, p. 164.
IV. (a) The national independence fostered by protection is good only in case of war. It is better to prevent war altogether by establishing a large free international trade.- D. A. Wells in Atlantic Monthly, vol. 36, p. 216. (b) Free trade in the end gains a better and greater...