Basic tariff analysis

More econ help at: go.gwu.edu/econvidoes

[@daisyblossom09]

sir i understand nothing from the textbook but i now understand with your videos, thank you

[@MafsG12]

7 years later here I am learning this haha Thank you it helped a lot!

[@andrewmacdonald4457]

Thank you for the help Mike!

[@MegaPonleu]

Thanks! This lecture makes things easier for my major in economics. Please upload more. :)

[@agnijsur6016]

Amazing video. Helped me recall the college lecture. Thank you Prof. Moore.

[@goharkhan1994-r3n]

SIR.,.,.. it helped me a lot,.,..,,thanks,.,.,.

[@gusti1021]

There is a high probability that small countries produce primary goods (food), while they import capital goods (computers, machines, etc) from richer larger countries. If the small country imposes a tariff on imports of capital goods (so they can start producing them inside the small country), then the outcome it's not as bad, because that's the only way of "protecting" its local developing industry whilst increasing employment and government revenue from richer consumers that live in the small country (that's people who own land and produce food). Having no tariffs would mean that the small undeveloped country will never develop and will remain being a primary economy (which benefits richer consumers and food producers inside the small country, increasing inequality). I think that this mainstream theory was specifically designed by richer countries so that poor countries buy capital goods from developed countries and never get to develop their own small industry; and we know that capital goods tend to rise in price and primary goods don't. It's a clever way of keeping poorer countries poor, undeveloped and unequal. Thanks for this video, professor!

[@fiorelam9465]

from peru 7 am studying for my exam at 11 this video really helped me a lot thanks:)

[@hildamilka2766]

Thanks alot for the detailed and understandable video!!

[@Chloe94169]

sir this is amazing and so so clear, thank you so much!

[@TigranKarapetyan97]

Thank's a lot for a very understandable and quick lecture. :)

[@jackdelorenzo8708]

very informative thank you

[@yaypink2031]

thank you this is helpful

[@wondimuwodajo9410]

Thanks a lot!!!. It's spoon feeding lecture.

[@suuualpiii5089]

Sir thanks it helps me a lot 👍💯

[@Alexander-zs6mt]

awesome job !!! Thank u

[@Rue_IDK]

thank you so much sir that was very helpful

[@weightlesness]

thank you so much

[@virtuousjoffrey8022]

can you do one on the effect of a tariff on a foreign country?

[@nazymdostybayeva5961]

how does tariff affect on domestic taxpayers?

[@legitmangotango]

So this does not apply to say the United States?

[@Awesomefulrific]

Not in many cases, because the US would be a large and not a small economy for that good.

[@rakiyayakubu4768]

The notion of small or large country depends on the good being imported. If the US is a small producer of the good and therefore it's trade policies on the said good has no significant impact on the world market for that good, then the US will be considered a small country in terms of international trade for that good.

[@lunaqing8585]

For the PS, I have a question. What about the area below A, that also PS. isn't it ?

[@Awesomefulrific]

Yes, it just isn't part of the *change* in PS associated with the tariff

[@paulitschlaurenz]

Please replace the Lecturer at my home university you are much better than her!!!

[@paulwaqa3312]

The analysis is biased as it does not consider the international supply and demand, especially after the consideration on imported goods via tariff, while narrowly seeking to explain the domestic market through cost, producer, consumer and government surplus. In a way it hide behind the Friedman theory on capitalism, i.e. Greed. What is missing is international producer and consumer gain/loss that led to exploitation and high variation in wealth distribution.

[@ertoppersmaker1102]

Thinning sir