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    Polcompball Wiki
    Revision as of 11:04, 25 May 2024 by Nfan (talk | contribs)

    Not to be confused with Autocracy and Autarchy

    Protectionism, also known as Economic Nationalism or the fundamentalist version called Autarky (closed economy), is an ideology that believes that an economy of a nation should be protected against foreign influence for reasons that vary depending on who you ask. Generally, it is to promote and develop the local industry, not to be a simple importer of manufactures, so that the foreign industry does not devour the local industry and prevent foreign companies from buying local companies.

    "Protection is but the law of nature, the law of self-preservation, of self-development, of securing the highest and best destiny of the race of man."

    Variants

      Autarky

    Autarky is a fundamentalist version of protectionism that supports a completely closed-off economy from foreign goods.

      Fair-Trade Protectionism

    Fair-Trade Protectionism involves implementing protectionist measures in a way that aligns with fair trade principles, such as imposing tariffs or quotas on imports of goods produced under unfair labor conditions or environmental practices. The aim would be to protect domestic producers who adhere to fair trade standards from being undercut by cheaper imports produced under exploitative conditions. It focuses in particular on commodities, or products that are typically exported from developing countries to developed countries.

      Neo-Mercantilism

    Neomercantilism is a school of international economic thought which espouses an export-orientated economy, with subsidies and regulations favoring national business and larger corporate entities, over foreign competition.

    This model of trade became popular in the United States during the 1970s when American firms were suffering from competition from the Japanese industry.

    Examples of countries with an export-orientated economic model include:

    Personality

    TBA

    How to Draw

     
    Flag of Protectionism
    1. Draw a ball
    2. Color it grey
    3. Inside the ball, draw an orange-red shield
    4. Add two eyes

    Finished!

    Color Name HEX RGB
    Gray #A0A0A0 160, 160, 160
    Orange-Red #DA4830 218, 72, 48


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