China Quote by Walter Block
“Protectionism is a misnomer. The only people protected by tariffs, quotas and trade restrictions are those engaged in uneconomic and wasteful activity. Free trade is the only philosophy compatible with international peace and prosperity.”
About This Quote
Protectionism is portrayed as protecting inefficient activities, while free trade is linked to peace and prosperity.
In simple terms: Protectionism protects wasteful activity; free trade fosters peace.
Key Takeaway
Consider the economic impact of trade policies.
Themes
economics
trade
policy
peace
prosperity
Mood
analytical
balanced
Type
economic
political
When to use this quote
- policy debates
- business strategy
- education
Key Concepts
economics
political science
international relations
Questions to Reflect On
- What are the costs of free trade?
- How can protectionism be justified?
A Different Perspective
Free trade may have downsides for certain sectors.
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