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by Daishiman
3138 days ago
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This is an extremely uninformed opinion. First world countries restrict trade all the time. It's a mantra disseminated by first-world economists to justify breaking down trade barriers in third-world countries and set up shop more easily. It has been seen time and time again. It would be great is this meme were put to rest. |
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That's true. That doesn't mean it produces prosperity. Consider that those same countries impose sanctions on other countries to punish them.
How is a sanction different from protectionism?
Consider also a more comprehensive implementation of protectionism - Smoot-Hawley, which is credited as being a major cause of the Great Depression.
https://en.wikipedia.org/wiki/Smoot%E2%80%93Hawley_Tariff_Ac...