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George on Free Trade, At Home and Abroad: The American Economist and Social Philosopher Envisioned a World Unhindered in Production and Exchange
Author(s) -
Bonaparte T. H.
Publication year - 1989
Publication title -
american journal of economics and sociology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.199
H-Index - 38
eISSN - 1536-7150
pISSN - 0002-9246
DOI - 10.1111/j.1536-7150.1989.tb02122.x
Subject(s) - protectionism , free trade , economics , subsidy , george (robot) , production (economics) , trade barrier , capital (architecture) , international trade , inefficiency , government (linguistics) , rent seeking , international economics , law , market economy , political science , macroeconomics , history , linguistics , philosophy , archaeology , artificial intelligence , politics , computer science
A bstract .Henry George's theories on international trade are little known though he is respected as an advocate of free trade. He went along with the free traders of his time in three‐fourths of his classic, Protection or Free Trade. But he went far beyond the others in the last fourth of his book. “True” free trade, he argued, in the debate over protection that engaged some of the best minds in England and America , applied to domestic production as well as production for export. Hindrances to trade, like most tariffs, taxes, subsidies or other government policies, make products more expensive for the working people , worsen their situation by increasing economic rent to resource owners at the expense of labor and capital , and misallocate resources , maximining inefficiency and cost. The principle of free trade leads to Justice and equal rights , he held, seeking to advance his vision of a free society. Short run and long run solutions to protectionism are presented.