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What Are the Arguments in Favor of Protectionism? Which of Them

question 29

Essay

What are the arguments in favor of protectionism? Which of them are generally recognized as valid by economists?


Definitions:

Practical Constraints

Limitations or restrictions arising from real-world circumstances, which can affect how tasks are performed or decisions are made.

Planning Fallacy

The cognitive bias that leads people to underestimate the amount of time needed to complete a task, despite knowing that similar tasks have taken longer in the past.

Dissertation

A lengthy, formal document presenting the author's research and findings, typically required for the completion of a doctoral degree.

Goal Shielding

A cognitive process where focusing on a primary goal helps to block out competing goals, thus avoiding distractions.

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