Protectionism

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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 is a version of protectionism that is designed to help producers in developing countries achieve sustainable and equitable trade relationships. The fair trade movement combines the payment of higher prices to exporters with improved social and environmental standards. The movement focuses in particular on commodities, or products that are typically exported from developing countries to developed countries, but is also used in domestic markets, most notably for handicrafts, coffee, cocoa, wine, sugar, fruit, flowers, and gold.

  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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