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Some characteristics of the evolution of the economic policy of protectionism from antiquity to postmodernism

Zrinka Erent-Sunko ; Pravni fakultet Sveučilišta u Zagrebu, Zagreb, Hrvatska
Ozren Pilipović ; Pravni fakultet Sveučilišta u Zagrebu, Zagreb, Hrvatska
Nenad Rančić ; Pravni fakultet Sveučilišta u Zagrebu, Zagreb, Hrvatska

Puni tekst: hrvatski pdf 151 Kb

str. 1047-1080

preuzimanja: 1.497



The idea of the protection of the domestic economy from foreign competition on European soil first appeared in ancient Greece, parallely with the development of foreign trade and has existed alongside it ever since. The leading economic powers of their times: Athens, England, the Netherlands, USA, and others, in the initial stage of their development mostly resorted to protectionist measures, and once they gained a dominant position, they started regularly advocating free foreign trade so as to be able to additionally extend the sphere of their economic and political influence. During periods of economic crises, starting from Antiquity, through the first serious crises in early manufacturing, and later also in industrial capitalism of the 18th, 19th and 20th centuries, ripe capitalism in the 30's and 70's of the 20th century, and during the recent global financial crisis, protection has often be quoted as being allegedly the best way to ensure domestic production and employment. However, in the end it always turned out that this additionally prolongated and deepened the crisis, precisely because of the reprisal of the main foreign trade partners, who were trying to protect themselves in the same way, reducing thereby the total volume of domestic production, employment and international trade. Modern Europe has become very much aware of the fact that the problems are global, and solutions taken at the national level are no longer adequate and due to this they must be sought within a common market, using a common economic policy. Owing to the size, openness and structure of the economy, and to obligations stemming from membership in CEFTA and WTO, and also because of its accession to the EU, Croatia can no longer apply the classical instruments of protectionism. However, there is the possibility of using limited, sophisticated protectionism in passing restrictive regulations on standards required for particular imported products. It would be desirable to support domestic production and exports by loans that are more favourable than those given by commercial banks, and to ensure that public spending, especially during the recession, will help generate future production and employment.

Ključne riječi

doctrine of economic policy, mercantilism, protectionism, freedom of trade, WTO

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