How to Advance a Country: Free Trade or Protectionism?

What is the best way to make a country rich? Should you adopt a policy of free trade? Or is protectionism and economic nationalism the better way? We explore the history and theory of one of the central questions of economics and politics. Enjoying our Youtube videos? Get full access to all our audio content, videos, and thousands of thought-provoking articles, conversation cards and more with The School of Life Subscription: https://t.ly/TtvDF Be more mindful, present and inspired. Get the best of The School of Life delivered straight to your inbox: https://t.ly/sDebY FURTHER READING “One of the most pressing choices facing modern economies is whether to adopt a policy of free trade or of protectionism, that is, whether to encourage foreign goods into the country with minimum tariffs and allow industries to relocate abroad; or whether to make it hard for foreign firms to sell their goods internally and discourage domestic producers tempted by cheaper wages in other lands…” You can read more on this and other subjects here: https://goo.gl/3EQAUQ MORE SCHOOL OF LIFE Watch more films on CAPITALISM in our playlist: http://bit.ly/TSOLcapitalism SOCIAL MEDIA Feel free to follow us at the links below: Facebook: https://www.facebook.com/theschooloflifelondon/ X: https://twitter.com/TheSchoolOfLife Instagram: https://www.instagram.com/theschooloflifelondon/ CREDITS Produced in collaboration with: Mike Booth https://twitter.com/somegreybloke?lang=en http://www.youtube.com/somegreybloke #TheSchoolOfLife ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Learn more about your ad choices. Visit megaphone.fm/adchoices