The Forgotten Man, and Other EssaysSumner, William Graham
Science
The Forgotten Man, and Other Essays
Sumner, William Graham
Economics; Social sciences
As soon as the issue is formed, however, and the protectionists are
forced to formulate their doctrine, as a doctrine, its absurdity
becomes apparent. It is not capable of statement. If we are to have
temporary protection, in order to start infant industries, then it will
become imperatively necessary, so soon as public attention is occupied
by the subject, to say how, and how far, and how long, the system is to
be kept up, and the public will demand to know how it is getting on,
and at what rate it is approaching its goal. For this reason those who
have any logical directness of thinking, have already advanced to a
more intense position; they advocate protectionism as a permanent and
universal economic philosophy. In that form it flies in the face of
common sense and civilization; in some of the latest forms which it has
taken on in the hands of some professors of political economy, it is a
kind of economic mysticism.
If, however, the United States could be cut off from all the rest of
the world as regards trade and industry, then at least it should be
plain that whatever material prosperity they could gain would be just
what they, with their energy, enterprise, and capital, are able to
extract from such soil and climate as nature has given to us here. What
would be the difference if, then, there were no tax barriers? Certainly
none whatever. The wealth which the American people get they must
produce by applying their labor and capital to the natural advantages
which they possess. With foreign trade open to them, they will not make
use of it unless they find an advantage in it; that is, unless American
labor and capital can attain more wealth through exchange than without
it. The task of American producers will still be to attain the greatest
possible wealth by expending their labor and capital on American soil,
either directly, or with an intermediate step of exchange. Wages are
only a part of the product of the country; if then, trade increased
the amount of commodities at the disposition of the people, it would
increase the amount of each share in the distribution. This is the
simplest common sense of the matter, stripped of all technicalities,
and to this the whole discussion must again and again return.
Public-domain text, read in full here on John Shaqi.
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