whose interests should be the paramount concern of government trade policy—the interests of producers (businesses and their employees) or those of consumers? Defend your answer!
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whose interests should be the paramount concern of government trade policy—the interests of producers (businesses and their employees) or those of consumers? Defend your answer!
Government trade policy should be concerned with consumers more , because if trade policy favour producers and protect them from foreign competiiton, producers will not try to innnovate in absence of competition from better foreign goods as well as they may charge higher price and exploit consumers. If trade policy is concerned about consumers and open the trade, new goods will be imported at lower price and consumers will have more options. i know employees of the business may get hurt due to the increase in import and they may loose their jobs due to less demand for domestic goods. but when trade is opened, MNCs also enter the domestic market which may increase job opportunities for class of labor or employees. so Govt should favor consumers
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