Essay by Jagdish Bhagwati (Library of Economics and Liberty, USA 2011-21)

These days we frequently read business news headlines like: “The government is taking protectionist measures.” But what precisely does protectionism mean? And what is its connection with business? You'll find some more information about the protectionism in this video.

Exercises and simulations explore the global economy, why and how nations trade with one another, who some of the major players in the international market are, how we gain from international trade, and how protectionism can have unintended consequences (Annenberg Learner 2015).