Dartmouth economics professor Doug Irwin uses R, R, and R, to summarize centuries of trade.Revenue Restrictions Reciprocity. Using the three R’s, we can look back and then ahead. The Three R’s of Tariffs. Tariffs fluctuate for different reasons. Rarely targeting a specific industry, typically an entire schedule rises or falls. Then though, tariffs shift when the market changes the price of an item. And, beyond the market, tariffs are political when a dominant political party tilts them towards its interests. Between 1837 and 1860, the Democrats, favoring an export dependent South, supported a revenue-only tariff. ….[READ]
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