Word: protectionist
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Dates: during 1970-1979
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...cheaper foreign products. A 1978 survey sponsored by retail organizations found that goods imported from Asia and Latin American cost, on the average, 16 per cent less than their American counterparts. Lower income groups then, the major consumers of these cheaper imported goods, suffer the most from the protectionist policies...
...vote for the politicians who promise to safeguard their jobs in the short-run by restricting imports. But over the long haul, such a policy will only hurt these workers as consumers. And worse, scrapping free trade ultimately will erode the long-term welfare of the American worker, which protectionist politicians claim so vigorously to protect...
...pronounced protectionist sentiment also emerged from the survey. Fifty-seven percent said adding a tax to imported goods to bring them into line with American-made products would help control prices. On the other hand, more than 60% rejected limiting the availability of mortgages as a way to control housing prices, and nearly 90% turned down a tax increase as a way of reducing total demand for goods...
Bhagwati said the nations signed the agreement to ward off the protectionist sentiment in international trade and thereby increase productivity. The pact's effectiveness, however, will rely on trading countries' observance of its guidelines, he added...
With the time gained by temporary protectionist measures and a subsistence diet of subsidies, Europe's threatened industries must accomplish a formidable task of rejuvenation. In West Germany, Strukturwandel (structural change) is constantly on the lips of industrialists, politicians, economists and union bosses. The term covers a variety of measures: a switch to profitable products, heavy investment in machinery, "rationalization," or reduction of labor forces where warranted, the retraining of surplus workers, even a shift of emphasis in the education system away from the humanities to technical training in new industries. "Our industry must manufacture goods that others...