protectionism
pruh-TEK-shuh-niz-um
/prəˈtek.ʃən.ɪ.zəm/
The policy of shielding domestic industries from foreign competition through tariffs, quotas, or subsidies.
Refers to the overall political strategy and economic philosophy of restricting foreign trade to protect home-grown businesses.
The story behind the word. Protectionism comes from Latin 'protegere' (pro- 'in front' + tegere 'to cover'). Nineteenth-century political economists created the term to describe legal policies designed to shield young domestic industries behind legislative tariff walls.
Word relationships
- isolationism: Isolationism includes broader military and political disengagement, whereas protectionism focuses strictly on economic limits.
- liberalization: Liberalization involves removing trade barriers, whereas protectionism erects them.
Commonly confused with
- autarky: Protectionism favors local firms over foreign ones, whereas autarky completely eliminates foreign trade.
Word family
- protectionist (noun): A person who advocates economic protectionism
- protectionist (adjective): Relating to protectionism policies
Collocations
- trade protectionism
- resurgence of protectionism
- protectionist measures
Example sentences
- "Rising protectionism across major economies threatens to disrupt global supply chains." Global economic outlook
- "During the Great Depression, nations turned to protectionism in an attempt to safeguard domestic employment." Historical perspective
Memory hook
PROTECT local businesses from foreign competition. Shielding local markets.
When not to use
Do not use for physical personal protection or military security measures.
Fun facts
- 19th-century economist Friedrich List famously argued that protectionism was a necessary 'infant industry' phase before developing nations could compete freely.
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