The New Protectionism (1916)

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Focusing on the flaws of protectionism, Hobson critiques this economic policy for its detrimental effects on both domestic economies and international relations. He provides a historical context, showcasing its impact across various nations, while highlighting the inefficiencies it creates by fostering complacency in domestic industries. Additionally, Hobson warns of the potential for trade wars and conflict arising from protectionist measures. This influential work advocates for free trade, emphasizing its benefits in the ongoing discourse on economic policies.