When domestic residents buy imported goods, the country gets the goods and The proponents of this argument claims that If a policy benefits one industry, it would often hurt another sector (e.g., consumers) Protectionists usually appeal to the patriotismĪnd nationalistic attitude of fellow citizens. This constitutesĪ fallacy of composition. Is good for my industry is also good for the country. In so many words, protectionists would argue that what Most of their arguments assert that protection benefits the national interest. Very far if they were to argue in terms of their own private gains. Their case to the public and government, protectionists would not get The government to protect them from foreign competition. You can easily see how domestic industries might persuade "What is good for our industry is also good for In practice, but many such arguments are often abused. ![]() In practice, no countries practice free trade policy.Ī few arguments are theoretically valid. Economic theory states that free trade is better
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