“[Social legislation] raised the cost of production; and what can be more illogical than to raise the cost of production in the country and then to allow the products of other countries which are not surrounded by any similar legislation, which are free from any similar cost and expenditure freely to enter our country in competition with our own goods...If these foreign goods come in cheaper, one of two things must follow...either you will take lower wages or you will lose your work.” IfsTwoCountrySocialLosesProductsCostRaisesCompetitionRaisedProductionsOur CountryTwo ThingsGoodsOther CountriesLegislationWagesCheaperExpendituresIllogical Author:Joseph Chamberlain
“It takes time and experience to absorb new technologies, so technologically backward producers need a period of protection from international competition during this period of learning. Such protection is costly, because the country is giving up the chance to import better and cheaper products. However, it is a price that has to be paid if it wants to develop advanced industries.” IfsWantNeedsGivingCountryChanceTechnologyProductsIndustryPeriodsGiving UpPaidCompetitionInternationalProtectionProducersTake TimeCheaperNew TechnologyImportsIt Takes Time Book:Bad Samaritans: The Guilty Secrets of Rich Nations and the Threat to Global Prosperity Source: Bad Samaritans: The Guilty Secrets of Rich Nations and the Threat to Global Prosperity