Abstract
In Chapter 3, Godley’s protectionism was discussed in macroeconomic terms. As stated there, it is rather odd that a one-period (short-to-medium term) Keynesian framework should be employed to formulate a long term stable equilibrium model. Therefore, in spite of Godley’s assertions to the contrary, the application of neo-classical concepts for an appraisal of his proposition is inevitable. The purpose of this chapter is to do precisely that in a brief and concise fashion — see Chapter 5 for a political economy approach.
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© 1984 Ali M. El-Agraa
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El-Agraa, A.M. (1984). An Orthodox Appraisal of the ‘Employment-Tariff’ Proposition. In: Trade Theory and Policy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-06943-9_4
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DOI: https://doi.org/10.1007/978-1-349-06943-9_4
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-06945-3
Online ISBN: 978-1-349-06943-9
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