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Alexander Hamilton who served as the first Secretary of the Treasury of the United States in the late 18th and early 19th centuries believed that protectionism was in the best interest of the nation because it would encourage the development of domestic industries and help to reduce dependence on foreign imports. He was a strong advocate for tariffs and other forms of trade protectionism and played a key role in the development of the American economy. Hamilton’s views on protectionism have been influential in shaping economic policy, particularly in the United States, where protectionist measures have been used to promote domestic industries and support economic growth.
Protectionist measures in Western Countries were the norm before the end of the 20th Century and that is why the West (Europe and the Anglophile World) has such tremendous historic wealth, it’s what made these countries great in the first place! Since we’ve moved from protectionism to globalism we’ve all got poorer, except of course the 1% at the very top of the socio-economic pyramid, the billionaire classes of world controllers who meet at Davos every year deciding whether we should eat bugs or not! Those folks, the insufferable arrogance of which has become a background hum in our daily existence!
What is protectionism?
Economic protectionism is a policy that aims to protect domestic industries and markets from foreign competition. In simpler terms, it’s like making sure that products made in your own country are not easily replaced by products from other countries.
Some people believe that economic protectionism is a good thing because it can have several benefits for both people and the environment. Let’s explore some of these benefits in more detail:
- Promoting economic growth and job creation: By protecting domestic industries, economic protectionism can help them grow and expand. This means that these industries will need more workers, creating new job opportunities. This is especially important in developing countries where creating jobs is crucial for the economy.
- Protecting the environment: When domestic industries are protected, they can focus on producing environmentally-friendly products. This helps reduce the risk of environmental degradation and supports sustainable economic growth. Additionally, protecting domestic industries can also prevent foreign companies from exploiting the environment for profit.
- Improving working conditions: Economic protectionism can also prevent companies from moving production to countries with lower labor costs where workers are paid less and working conditions are often poor. By protecting domestic industries, workers are protected and fair wages and working conditions can be promoted.
- Encouraging innovation: By protecting domestic industries, companies are encouraged to invest in research and development, leading to the creation of new and innovative products. This can improve competitiveness and support sustainable economic growth.
Protecting quality: By reducing the pressure to compete on price, economic protectionism can prevent companies from outsourcing jobs to countries with lower labor costs, which can negatively impact the quality of products.
So, what’s the bottom line? Economic protectionism can have several positive impacts on people and the environment. It can promote economic growth, protect the environment, improve working conditions, encourage innovation, and protect the quality of products. However, it’s important to remember that economic protectionism can also have negative consequences like decreased competition and increased prices. That’s why it’s crucial to implement it in a balanced and well-thought-out manner. A good government that works in the best interests of it’s people is essential for this, but this is not what we see when we switch on the news! We firmly believe at the Standup Philosophers that the economy should serve the people and not the other way around! This is in stark contrast to our present modern day clutch of quislings and traitors who have sold our nations to big business lobbyists making the present era one of Globalism! Globalism is bad for the working classes, but good for company directors for the following reasons.
The Status Quo is Globalist!
Economic globalism refers to the increasing interconnectedness of economies around the world through trade, investment, and other economic interactions, it’s not perfect and whilst it clearly benefits the top 1% of the nation’s socio-economic pyramid the same cannot be said of the bottom 99% who have to put up with the following issues that must be considered.
- Income Inequality: Economic globalism often leads to increased income inequality, as workers in developed countries may see their jobs outsourced to countries with lower labor costs. This can result in lower wages and job loss, particularly in industries that are highly vulnerable to competition from abroad.
- Environmental degradation: Economic globalism can encourage companies to relocate production to countries with weaker environmental regulations, leading to increased pollution and environmental degradation. Additionally, the increased use of transportation and trade associated with globalism can lead to increased greenhouse gas emissions, contributing to climate change.
- Cultural homogenization: As companies and products from different parts of the world become more interconnected, there is a risk of cultural homogenization, as local cultures and traditions may be displaced by more dominant cultural forces.
- Dependence on other countries: Economic globalism can lead to increased dependence on other countries for goods and services, which can make countries vulnerable to economic shocks and other events that affect their trading partners.
- Financial instability: The increasing interconnectedness of financial markets through globalization can result in increased instability, as financial crises in one part of the world can quickly spread to other countries.
- Unfair competition: Economic globalism can result in unfair competition, as companies in some countries may have an advantage due to weaker labor or environmental regulations, or other factors. This can result in companies in other countries struggling to compete and being forced to reduce wages and benefits for their workers.
These weaknesses can be mitigated by implementing policies that promote sustainable economic growth, reduce inequality, and protect the environment, but we need good government for that! Does anyone today actually believe that we have such a thing? We live in an age where our liberties and our lives have been sacrificed to the gods of the economy for the benefit of it’s priestly class, the top 1% of which we’re all supposed to look at in awe and reverence as if they are the Gold People of Plato’s republic, but the truth is that they’ve betrayed us, they govern only in their own interest and where we do benefit from their activities it’s purely by chance, a side effect of the system and not part of its deliberate design! That’s why we should all collectively say ‘fuck the globalists!’
