Economic development Quote by Ulysses S. Grant
““For centuries England has relied on protection, has carried it to extremes, and has obtained satisfactory results from it. There is no doubt that it is to this system that it owes its present strength. After two centuries, England has found it convenient to adopt free trade because it thinks that protection can no longer offer it anything. Very well then, gentlemen, my knowledge of our country leads me to believe that within two hundred years, when America has gotten out of protection all that it can offer, it too will adopt free trade.””
About This Quote
Source Speech: Address to the United States Congress, 1869
Grant argues that protectionist policies once strengthened England, but as economies evolve, free trade becomes preferable.
In simple terms: Protection helped England, but free trade will likely replace it.
Key Takeaway
Adapt economic policies to changing global conditions.
Themes
economics
history
policy
trade
globalization
Mood
analytical
reflective
Type
political
economic
When to use this quote
- government policy
- business strategy
- international relations
- economic forecasting
Key Concepts
protectionism
comparative advantage
Questions to Reflect On
- What are the risks of shifting from protectionism to free trade?
- How can societies mitigate negative impacts of trade liberalization?
A Different Perspective
Free trade may not benefit all sectors equally and can cause short‑term disruption.
