Some Aspects of the Tariff Question

Taussig, a professor of economics at Harvard, wrote what has become a classic work on modern trade theory that critically examines the economic implications of tariffs and protectionism. Taussig explores how tariffs influence domestic industries, trade relations, and economic growth, offering insights into the complex dynamics of international commerce. .

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Citation

Some Aspects of the Tariff Question (Cambridge: Harvard University Press, 1915).

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Alfred Marshall (Author)

As one of the founding figures of neoclassical economics, Marshall’s ideas on supply, demand, and equilibrium significantly influenced Taussig’s approach to applied economic problems, especially in trade.
Jacob Viner (Author)

Viner’s work on the economics of international trade and tariffs complements Taussig’s practical and historical analyses.
Thorstein Veblen (Author)

Veblen’s critical analysis of economic practices provided a contrasting perspective to Taussig’s more classical approach, but both addressed economic changes during industrialization.

Key Quotes

Economics

The relation between high wages and the use of machinery calls for a word more of explanation. It is usually said that high wages are cause of the adoption of machinery, and that we find here the explanation of the greater use of machinery in the United States. I believe that the relation is the…

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Critical Responses

Article

Review of Taussig in Journal of Political Economy

R.G. Blakey

Blakey offers insights into Taussig’s perspectives on tariffs and trade policy, evaluating the strengths and potential oversights in his analysis.

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Connected Readings

Book

The Collected Works of Frédéric Bastiat. Vol. 3: Economic Sophisms and “What is Seen and What is Not Seen”

Frédéric Bastiat

Economic Sophisms

A collection of essays that debunk economic fallacies, including those related to tariffs and protectionism.

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Free Trade Under Fire

Douglas Irwin offers a defense of free trade policies against modern protectionist arguments, providing a contemporary contrast to Taussig’s historical analysis.

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