Part one of term paper
Pick up a newspaper, especially during a recession or other high unemployment times, and you will probably find at least one article a month about an industry complainig about "unfair" competition from foreign suppliers. If foreign brands were restricted in supply, the argument goes, this would leave more of the American market to American f ...

Part two of term paper
... As it turns out, import restrictions do not save jobs, they cost them. The flaw in the protectionist's argument is to view only a tiny part of the economy, imagining how it would be affected by taxing its foreign competitors, ignoring the remainder of the economy, and then concluding that what is best for that small part of the economy must be good for the whole. It's a laughable logic. Import restrictions can take several forms. Typically, Congress will use tariffs and quotas to protect a do ...