Free trade vs. protectionism

Free trade vs. protectionism

Table of Contents

Toggle

Order ID# 45178248544XXTG457	Plagiarism Level: 0-0.5%	Writer Classification: PhD competent
Style: APA/MLA/Harvard/Chicago	Delivery: Minimum 3 Hours	Revision: Permitted
Sources: 4-6	Course Level: Masters/University College	Guarantee Status: 96-99%

Instructions

Free trade vs. protectionism

Free trade and protectionism are two opposing economic policies that countries can adopt in their international trade relationships. Free trade involves the removal of barriers to trade, such as tariffs, quotas, and subsidies, allowing goods and services to flow freely across borders. Protectionism, on the other hand, seeks to protect domestic industries by imposing barriers to trade, such as tariffs and quotas, to limit imports and promote domestic production.

Advocates of free trade argue that it brings economic benefits to countries by allowing them to specialize in producing the goods and services in which they have a comparative advantage, and then trade with other countries for the goods and services they cannot produce efficiently. This leads to increased efficiency, lower prices, and a larger variety of goods and services for consumers. Furthermore, free trade can stimulate economic growth by creating new markets for businesses, generating employment opportunities, and attracting foreign investment.

However, critics of free trade argue that it can have negative impacts on certain groups within a country, particularly workers in industries that face competition from imports. These workers may face job losses or reduced wages due to increased competition from foreign producers who can produce goods at a lower cost. Additionally, some argue that free trade can lead to the exploitation of workers in developing countries who may work in poor conditions and receive low wages to produce goods for export.

Protectionism, on the other hand, seeks to shield domestic industries from foreign competition and protect jobs at home. This can be done by imposing tariffs on imported goods or limiting the number of imports through quotas. Proponents of protectionism argue that it can provide a level playing field for domestic producers to compete, leading to the growth and development of industries that may have otherwise been overwhelmed by foreign competition. Additionally, protectionism can promote national security by ensuring that the country is not reliant on imports for essential goods.

However, critics of protectionism argue that it can lead to inefficiencies and higher prices for consumers, as domestic producers may not have the same incentives to innovate and produce goods at a lower cost. Protectionism can also lead to retaliation from trading partners, which can harm a country’s exports and overall economy. Furthermore, protectionism can encourage rent-seeking behavior, where industries lobby the government for protection, leading to an inefficient allocation of resources.

In practice, most countries adopt a combination of both free trade and protectionist policies. For example, a country may lower barriers to trade for certain goods or services while protecting other industries through subsidies or tariffs. Additionally, international trade agreements, such as the World Trade Organization, seek to reduce trade barriers and promote free trade, while allowing countries to implement measures to protect certain industries.

In conclusion, free trade and protectionism are two opposing economic policies that have their own benefits and drawbacks. Free trade can bring economic benefits to countries through increased efficiency and trade, while protectionism can protect domestic industries and jobs. Ultimately, the choice between free trade and protectionism depends on a country’s economic, political, and social priorities, and requires a careful balance between the benefits and costs of each approach.

Free trade vs. protectionism

RUBRIC
Excellent Quality 95-100%	Introduction 45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.		Literature Support 91-84  points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.			Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score 50-85%	40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.		83-76  points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.			52-49  points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality 0-45%	37-1 points The background and/or significance are missing. No search history information is provided.		75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.			48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
You Can Also Place the Order at www.perfectacademic.com/orders/ordernow or www.crucialessay.com/orders/ordernow

PLACE THE ORDER WITH US TODAY AND GET A PERFECT SCORE!!!