Paula Todhunter, Chapter 12, Question #5

I found the topic of trade and protectionism and how they affect the economy in the long and short run. It was really cool how Wheelan addressed these issues from both sides and recognized the benefits and faults to each. To sum it up, trade can take away jobs simply because if someone in a different country can do the same job better or for less money than you, then you'll be out of a job. While trade can also create jobs, Wheelan recognizes that it still really sucks for the people losing their jobs, because they still have to buy for things now, not in the long run when the new jobs come around. We can prevent this kind of job lose from happening with protectionism, restraining trade, but then it stunts economic growth. By getting rid of trade, we'd be forced to produce everything our selves which would give us less time to focus of more efficient ways to do things or developing new technology. Trade increases the economy, but can cause job lose. Protectionism can save jobs, but it slows economic growth.