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Labor standards argument for protection |
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Labor standards argument for protectionThe view that trade restrictions (trade sanctions) should be used as a tool to improve labor standards, limiting imports, for example, from countries that do not enforce such labor rights as freedom of association and collective bargaining.Labor standards argument for protectionThe view that trade restrictions (trade sanctions) should be used as a tool to improve labor standards, limiting imports, for example, from countries that do not enforce such labor rights as freedom of association and collective bargaining.Similar MatchesNational defense argument for protectionNational defense argument for protectionThe argument that imports should be restricted in order to sustain a domestic industry so that it will be available in case of trade disruption due to war. This is a second best argument, since there are a variety of ways of providing for defense at lower economic cost, including production subsidies, mothballing, and stockpiling. Mortgage payment protection insurance (MPPI)Mortgage payment protection insurance (MPPI)An MPPI policy pays your mortgage for you if you become unable to work for an extended period of time, as a result of redundancy, accident, sickness or disability. It should provide enough income to cover all your monthly mortgage expenses. If you have a repayment mortgage, this should be your capital and interest repayment and if you have an interest-only mortgage, the MPPI should cover your interest payment as well as your normal monthly contribution to the investment vehicle that will repay your loan. Infant industry protectionInfant industry protectionProtection of a newly established domestic industry that is less productive than foreign producers. If productivity will rise with experience enough to pass Mill's and Bastable's tests, there is a second-best argument for protection. The term is very old, but a classic treatment may be found in Baldwin (1969). Second-best argument for protectionSecond-best argument for protection1. Any argument for protection that can be countered by pointing to a different and less distortionary policy that would achieve the same desired result at lower economic cost. 2. An argument for protection to partially correct an existing distortion in the economy when the first-best policy for that purpose is not available. For example, if domestic production generates a positive externality and a production subsidy to internalize it is not available, then a tariff may be second-best optimal. Political economy of protectionPolitical economy of protectionThe study of reasons, especially political ones, that countries choose to use protection. Includes models of voting, lobbying, and campaign contributions as these lead policy makers to erect tariffs. Further SuggestionsConsumer Credit Protection Act of 1968Tariff protection court of protection Marine Mammal Protection Act Noneconomic objectives argument for protection Protection Protectionism Downside Protection Investor Protection Scheme Exchange rate protection Environmental protection argument for a trade intervention Actual protection rate Call protection Self-sufficiency argument for protection Nominal rate of protection Fairness argument for protection Import protection Effective protection protection applied Externalities argument for protection Domestic distortions argument for protection Securities Investor Protection Corporation home responsibilities protection Protectionism Safeguards protection |
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