Economic Notes on Some Arguments for Protection

Lionel Robbins

Chapter 7 in Economic Science and Political Economy, 1997, pp 99-115 from Palgrave Macmillan

Abstract: Abstract The case for the tariff, as it is argued at the present day, is usually based on one of three types of argument — simple fallacies of composition, misconceptions of old theories, new (or apparently new) analysis. At this period of the twentieth century there is no need to discuss the first of these classes. The usual argument for safeguarding — Protection is good for this particular industry; Protection is therefore good for industry as a whole — is a good example of this type and, although it would be a relief if one could be sure that its manifest illogicality were apparent to .001 per cent, of the electorate, it is clearly not a subject of interest to professional economists. But the second and third types of argument have greater speculative attractions and it is the object of these notes to take a few typical specimens, and submit them to further analysis.

Keywords: Real Wage; Demand Curve; Pure Theory; Export Industry; Bank Rate (search for similar items in EconPapers)
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-12761-0_8

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DOI: 10.1007/978-1-349-12761-0_8

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