Political support for international trade restrictions in the United States and most other developed countries arises from

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Political support for international trade restrictions in the United States and most other developed countries arises from rent seeking. Rent seeking is lobbying and other political activity that seeks to capture the gains from trade. You’ve seen that free trade benefits consumers but shrinks the producer surplus of firms that compete in markets with imports.

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Foundations Of Microeconomics

ISBN: 9780134491981

8th Edition

Authors: Robin Bade, Michael Parkin

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