12 Facts About Protectionism and the Global Economy

This book portrays protectionism as a significant component of mercantilism, a self-centred and antagonistic economic system practiced in Europe from 16th to 18th century. It examines the anatomy of the global economy in the context of globalization which renders protectionism and other macro-economic policies of nations ineffective today. The book also draws lessons from the recent American experiences with protectionist policies of President Donald Trump and concludes its thesis with the statement of 12 facts about protectionism and the global economy. One of them is that the interests of nations running the global economy would naturally and inevitably clash just as the interest of the buyer of a commodity aiming for a low price clashes with that of its seller aiming for a high price. However, this clash does not preclude the transaction; moreover, it does not render the contending parties enemies.