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Normative economics is concerned with making welfare judgments about policies and economic events. This chapter discusses government policies. In the case of trade theory, commercial policy-normative economics embraces the study of the welfare consequences of various events when policies are...
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ContentsForeword, ixI. Introductory, 1II. The Nature of Protection, 8III. Critique of Popular, and Fallacious, Arguments for Protection, 17IV. The Argument for Free Trade, 50V. Rational Protection, 63VI. Anti-dumping Legislation and Special Forms of Foreign Trade Control, 89VII. The Future...
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