“Diverting resources into uneconomic uses takes them away from other, more productive areas and costs jobs. Some jobs are lost; others are never created. The uneconomic effects of protectionism benefit a few – usually well-to-do – at the expense of the great majority, including the poor. Protectionism cannot be justified on economic or moral grounds. As Frederic Bastiat wrote, tariffs are “legalized plunder.” The law is used to steal. By.”
