Encyclopedia of the Philippines [Volume 10 : General Information and Index - Part 2 of 2]

Page 1

The Nepa By

BENITO RAZON

Former President, National Economic Protectionism Association

The students of economics are divided into two great groups: on one side, we find the followers of the doctrine of economic internationalism, of \vhich the physiocrats were the most ardent and worthy champions; on the other, we see the followers of the theory of economic nationalism with Friedrich List and Fichte as their leaders. ECONOMIC INTERNATIONALISM

The internationalists hold that tariff barriers, restrictions, prohibitions, b(mnties and subsidies prevent the natural flow of commerce; that goods produced under the most natural conditions and freely exchanged between countries result in e,conomy, thereby promoting the welfare of the peoples affected; and that economic internationalism, in the operation of its functions, contributes in offsetting the periodic recurrences of world-wide depressions. Internationalism, like a great tide, is extremely high at one time and surprisingly low at another. It cannot be denied that in the ebb and flow of this tide, some progress has been attained in internationalizing ideas, contacts and attitudes; that selfishness, greed and domination have in many respects receded, while world's brotherhood, service, and the desire to secure for humanity equal opportunity in the promotion of happiness and well-being have gained momentum. ECONOMIC NATIONALISM

On the other hand, the followers of the theory of economic nationalism claim that the millennium is not yet discernible in our horizon and that nations of the world are still provincial and insular. 289


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