Asked by
Mumta Menghani
on Nov 26, 2024Verified
Frederic Bastiat's "Petition of the Candlemakers" most directly refutes which of the following arguments for protectionism?
A) increased domestic employment argument
B) infant industry argument
C) cheap foreign labor argument
D) diversification-for-stability argument
Protectionism
An economic policy of restricting imports from other countries through methods such as tariffs and quotas to protect domestic industries.
Frederic Bastiat
A French economist and writer known for his advocacy of free markets and his critique of protectionism.
- Comprehend the historical and theoretical critiques of protectionism.
Verified Answer
EZ
Learning Objectives
- Comprehend the historical and theoretical critiques of protectionism.