Protectionism & Free Trade: A Country‘s Glory or Doom?

Abstract

This paper does not only go over the ground of the generally traversed, and examined arguments commonly used, but, it carries the inquiry further than the controversialists on either side, yet ventured to go; also a sought to discover why protection retains such popular strength in spite of all exposures of its erroneous beliefs; to trace the connection between the tariff question and more important social questions, now rapidly become the "burning questions" of our times; and now to show what radical measures the principle of free trade logically leads to. Thus harmonizing the truths which free traders perceive with the facts that protectionists make their own theory plausible, it's perceived that this might open ground upon which those separated by seemingly irreconcilable differences of opinion may unite for that full application of the free-trade principle which would, secure both the largest production and the fairest distribution of wealth. Also facts emanating a posteriori will contain the general viewpoint of a country's recommended choice, as well as my view point. Index Terms-Free trade, protectionism, glory(advantages), Doom(drawback), industries, taxes, import/export, case study(on economic growth).