Part 53 (1/2)

6. Discuss the home market argument.

7. What can be said for and against the wages argument?

8. What is the vested interests argument?

9. What effect did the World War have upon the anti-dumping argument?

10. What is the military or self-sufficiency argument?

11. How did the war affect the infant industries argument?

12. Why was there a trend toward protection after the World War?

13. What is the nature and purpose of the United States Tariff Commission?

REQUIRED READINGS

1. Williamson, _Readings in American Democracy_, chapter xxix.

Or all of the following:

2. Carver, _Elementary Economics_, chapter xxvii.

3. Fetter, _Modern Economic Problems_, chapter xv.

4. Seager, _Principles of Economics_, chapter xxii.

5. Thompson, _Elementary Economics_, chapter xix.

QUESTIONS ON THE REQUIRED READINGS

1. What is the extent of the protective tariff throughout the world?

(Fetter, page 218.)

2. Distinguish between a specific and an ad valorem duty. (Fetter, pages 219-220.)

3. What is meant by a free list? (Fetter, pages 220-221.)

4. What is the fundamental proposition of the free trader? (Carver, page 244; Thompson, pages 262-263.)

5. What is the ”no buying no selling” argument? (Thompson, page 263.)

6. What is the balance-of-trade argument? (Carver, page 245.)

7. What is the origin of the present tariff system? (Seager, pages 394-395.)

8. What is the political argument in tariff discussions? (Seager, page 397.)