markitect-main/examples/infospace-with-history/output/entities/foreign-manufacture-prohibitions.md

Foreign Manufacture Prohibitions

Definition

Government bans on the importation of manufactured goods from other countries that could compete with domestic production, designed to protect domestic industries from foreign competition regardless of whether foreign goods might be cheaper or of better quality.

Source Chapter

Book IV, Chapter 3

Context

Smith criticizes these prohibitions as economically irrational, arguing that consumers should be free to purchase the best and cheapest goods available, regardless of their country of origin.

Economic Domain

Regulation

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