The Perils of Protectionism

Source

Protectionism is the expression of a sentiment that opposes economic progress.

Protectionism is destructive

The anti-globalization movement falls into this category. Its followers are the Luddites of today as they behave like those who sabotaged the labor-saving machines in earlier times. The earlier saboteurs wanted to keep their jobs in the wrong belief that it would be better for them…