The Tariff

Ross B. Emmett

A chapter in Frank H. Knight in Iowa City, 1919–1928, 2011, pp 47-48 from Emerald Group Publishing Limited

Abstract: This is not the place to enter into a general discussion of the policy of protectionism. It is well known that reputable economists practically without exception have always condemned it as an economic measure and that one of the stock sections in every elementary textbook on economics is devoted to refuting its fallacies. Whatever merit may once have been more or less reasonably ascribed to it as a method of stimulating the industrialization of a young nation passed into history in the United States when we became self-sufficient in manufacturing and began to export industrial products. From the farmer's point of view the tariff has been a costly national luxury for which he chiefly has had to foot the bill and the only compensation he as ever received was the privilege of paying more for his goods because they were marked “Made in the U.S.A.” – unless we credit the transaction with a certain amount of satisfaction derived from fattening our industrial trusts.

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:eme:rhetzz:s0743-4154(2011)000029b007

DOI: 10.1108/S0743-4154(2011)000029B007

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