In fact, economic self-interest almost always dominates a person’s concern for the welfare of other groups or the nation as a whole, when a significant part of an individual’s income is affected by trade policy.
One does not, for example, observe workers or managers in import-injured industries opposing protection for their sectors on the grounds that this may cause unemployment in other industries and reduce the real income levels of low-income consumers.
National and group concerns are likely to dominate personal economics welfare consideration only when the economic self-interest effects of trade policy on an individual are small or unclear.
Furthermore, the larger the decline in individual economics welfare as a person chooses to support various social goals that only benefit other, the less willing the person seems to be to sacrifice additional economic welfare to promote additional desirable social objectives.
In fact, economic self-interest almost always dominates a person’s concern for the welfare of other groups or the nation as a whole, when a significant part of an individual’s income is affected by trade policy.
One does not, for example, observe workers or managers in import-injured industries opposing protection for their sectors on the grounds that this may cause unemployment in other industries and reduce the real income levels of low-income consumers.
National and group concerns are likely to dominate personal economics welfare consideration only when the economic self-interest effects of trade policy on an individual are small or unclear.
Furthermore, the larger the decline in individual economics welfare as a person chooses to support various social goals that only benefit other, the less willing the person seems to be to sacrifice additional economic welfare to promote additional desirable social objectives.
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