tariffs and protectionism

[@damndemn]

i learn a lot more in 7 minutes of watching this video than reading my econ book for hours.

[@ecclass5574]

+demaytri narashita This guy saves academic lives.

[@MasseysGamingInc]

+demaytri narashita No shit. Passive reading teaches you nothing.

[@nobluehair56]

YOU ARE AWESOME MAN! I understood more from you in seven minutes than I did listening to 2 weeks of econs lectures in school! thanks so much!

[@XandriaRavenheart]

It always intrigued me how economists can say so much with one diagram...

[@Loyalfellow]

+Xandria Ravenheart That's about the realest thing I've heard in terms of economics, because its so true. In other words, these diagrams regardless of what's being illustrated, demand attention even to the slightest detail. Thus giving so much information in such a complicated, yet simple diagram.

[@gazakhstan]

An invaluable member of the KZbin community, thank you very much Mr Holden.

[@rsadsultanov3071]

Yes surely

[@ollysprings]

This guy is possibly the best economics teacher in the world, certainly the best I've ever come across. From an economic point of view for the global economy, protectionism is bad, so leave it out, and let him teach.

[@rorysmith7912]

This has just given me complete clarity on this diagram which I've been struggling with for a while now! Thank you very much!

[@AlmightyYukey]

I will be having my AS final in the coming wed ! Sir, you have been a great help for me since the start of my a level. What you are teaching makes sense to me than what my lecturer taught for a month ! Thank you !

[@teresazhang1584]

This is a great video! Thank you so much! I had slight trouble trying to understand why a tariff on imports meant that domestic producers could supply more but then you drew the S1 as domestic supply and then S2 as world supply and everything became more clearer! Thank you!

[@sunnyd7925]

you absolute legend! thank you so much, taught me something in 7 minutes, that my teacher couldn't do in a week, your students are very lucky!

[@TheSlushy]

Very nice. My economics teacher needed to go over this topic fairly quickly, and this video gave me some more information. The diagram is confusing at first, but once I saw this I find it very easy :)

[@jackodan]

was trying to get my head round this for my second year of college, after watching this however its clear as a bell, cheers prof.

[@Real-madrid5812]

Thank u very much uve helped me alot to understand the tariff. not even my teacher could explain this to me. but u explain it very good!! thx again :)

[@TheElijahliu]

Thank you so much for illustrating tariff like this on screen. It is very easy to understand for me even i am a second language learners and outside of scope of economics major.

[@Ojokernegro]

You're my hero...I wish to one day be at least nearly as good as you. I need to start watching your videos on a daily basis! You are AWESOME!!

[@MaxYourWildSide]

This is a fantastic example and has helped me in abundance. THANKYOU!!

[@hung2well]

Thank you. I love it when a lecturer speaks perfect English!

[@niyatibatish4754]

This is the best explanation of tariffs that I have ever come across ! Thank You so much Sir :-)

[@AKLWK]

OMG!! I'm amazed! If only my teacher was like this !! Great teaching skills you have!

[@sheilapatterson2125]

Great explanation!!! I have been taking an international economics class since April and didn't quite understand this whole concept via graph (curve), but after viewing your video a light bulb came on. Thanks!!

[@thembinkosikunene3547]

Sir, your videos are helping me through first year in university. helping a great deal!! thanks :)

[@ryder0792]

your students are seriously lucky to have you my friend. you are amazing :D

[@nardeenhanna]

thx phil...i mean you are a real life savoir...i had an exam in the International Economis n i was suffring the tariff point.... you had explained it so clearly...:)))) Thank you again....

[@poojavohra4388]

Dear Sir your small small videos are very interesting and full of knowledge by reading a book its takes hours to understand the concept but by your videos it only 5 min. Thanks alot sir i have completed my post graduation in economics ,your videos helped me a lot.

[@daphnec4016]

Absolutely fantastic. This video is awesome.

[@thomuk2006]

I just love these videos, they are helping me through uni!

[@coolsimpsons]

Thank you Vern Etzel, I'm so glad someone here understands how free trade is undermining the US manufacturing base. Free trade is great for consumers in the short term, disastrous in the long term. The true effects of free trade is only beginning to be felt, it will be much worse in the coming decade when US manufacture is truly nonexistent.

[@SpoofKnight]

Great video. Unbiased and informative.

[@victoriayeung53]

thanks you're an amazing econ teacher!! i don't understand how could my teacher taught us on this topic for 3 lessons but still leaving us confused.

[@egipthamada1204]

OMG better than my poff. would remember you tomorrow in exam . warm greetings from Egypt

[@mudassirranjha2481]

Sir Iam from 🇵🇰 Pakistan I am really thankful to you for your well teaching method (really)

[@maxhyett7317]

paj holden is the embodiment of wisdom

[@Promethion]

Really helped me with my IB internal assesment, THANK YOU!

[@malvarmarakontobro]

thank you, my professor wasn't really clear, and you've been very helpful!

[@taheritier]

love the how i met your mother quote! and this video helped so much, i wish my econ professor could be as helpful as you.

[@Anthony42850]

Thanks for the video!!! It helped me a lot!!!! Keep up the good work!

[@saqlaindawood94]

Its the best feeling in the world when you finally understand something you've been stressing over!

[@mimi0lala]

my exam is in a few hours!and this really helped me! thanx a mil!! :)

[@anniekay9864]

wow you taught me more than my teacher has in 2 weeks! thank you

[@stephaniesinclair814]

great video, helped me loads with my AS economics revision!

[@roughryder5]

You my good sir are an amazing teacher/professor!!

[@AkshayMehta]

This is exactly what I was looking for. Thank you so much !

[@Anubis-qf5ih]

Thank you !!this is very helpful for my midterm. I learned a lot.

[@Sabsterjoon]

clear and thorough as always, thank you Sir!

[@ILIASFLO87]

Thank you very much!!! The truth is that not only in this video but also in the rest, you really helped me!!! :-)

[@MeTriviSlipKlokDriva]

i like how you don't cut out the end of your videos lol cracks me up everytime

[@lilsi19]

haha, love the way you ended this v ideo "bub bye..pause..............stop" haha but yea absolutely quality. You have been a massive help to me in all your videos...thank you!!

[@hina5243able]

this is an amazing explanation, thank you so much💕💕💕💕💕

[@silent4fail]

thank you for the video, u've just helped with my college economics.

[@andrwleong]

Pajholden, if every teacher had your passion, enthusiasm and teaching ability. The world would be a better, more educated, place. Thank you for your help.

[@erastusmalimi3311]

you are really good ,thank you, if only my lecturers would explain it that way

[@DianaQi]

Thank you so sumch, it is really help me to understand better about the tariff how it works...

[@alezziothepilot94]

How can you get a better explanation than this? Awsome. Please keep on doing these types of videos!!!!!!!!!!!!!!

[@pepepotamo85]

thank you! this is some high quality teaching!

[@manspider1833]

You're amazing. Really.

[@craig49211]

thanks..this video really helped me..ur amazing

[@fragierboy41]

You make understanding economics ten times easier then my econ teacher

[@antonybond7831]

you are a star sir.......thumps up

[@CRoestify]

Thanks a lot, this video really cleared some things up for me.

[@prashs90]

excellent stufff, so much clearer

[@DaWanderer]

Hey pajholden, thanks for this great video. I have one question if anyone can answer! What would the diagram look like if we're dealing with only two countries: A and B. What would happen if country A placed a tariff on goods imported ONLY from country B, and not the whole world. Would the supply curve (B, instead of world) still be horizontal? How would it then shift if imports are placed? thanks!

[@blaader4ever]

Thank you a lot sir, you made my international trade's exam ;)

[@Llnholy]

Thank you so much for this. Very easy to understand.

[@aruvenramen6240]

Really good video !!!!

[@11sahiljain]

Sir you are the actual farther of ECONOMICS

[@tmwutt]

so since there is more quantity supplied domestically after the tariff, does this mean that domestically they do not need to import much because of the increase in supply they have?

[@EssentialSriracha]

Perfect explanation! Many thanks! ;)

[@florianwicher]

Thank you - now my book makes sense :D

[@LinikeBlom]

This is honestly so helpful! I'm sused for the exam tomorrow! for one question anyways....

[@Slayavcados]

Nice video. You Should post a video on quantitative easing and its real impact to the purchasing power of paper money (currency) ... they never taught us about that is School when I was a lad...

[@giggiddyable]

excellent vid..tons of help!!!!

[@InstTaxSolutionsLLC]

This video is helpful on explaining how tariffs reduce imports to a country.

[@wiscsnowlover]

Great vid, very helpful. Thanks.

[@christianelivingston6884]

Paj Holden, you are a beautiful man. Thank you

[@Ascendancy9]

Absolutely brilliant. :)

[@MattCookOregon]

excellent video!

[@goPistons06]

your videos are awesome

[@GazaFloatilla]

EXCELLENT VIDEO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[@snoopg14]

FANTASTIC. CLEAR. CONCISE. !

[@aBrilliantGerman]

Thank you, very nicely explained!

[@khelser02]

Very helpful. My professor goes through so fast through everything

[@ajitrajendran63]

OUR SL ECON CLASS SALUTES YOU SIR!!! (wondering if the others watched this for hw)

[@belenverafuentes5014]

Hi. I love you and your explanations. c:

[@ladev91]

the most interesting man in the worlds brother

[@Josico2008]

thanks!! great explanation

[@nimajneb2005]

am i right in saying that, on the graph, x = quantity and y = price? i wish people labeled axis clearly!

[@ibyb2k6]

u r the god of economics =] pajholden for the chancellor of the exchequer!

[@tagelmekonenn]

Clearly presented! thank you!

[@itsadooozie]

Thank you! That helped me a lot.

[@viraj504]

thanks dude it is very helpful

[@ML-ek5ur]

+pajholden Phil, you’re the best econ teacher ever! Keep ‘nomics alive! 😀 💵

[@Lugomarialaura]

This is greatttt! Thank you so much!

[@100gigu]

Thank you. So informative!

[@glammapaki]

hi, i was wondering if there is a written version of this video so i can reference it for my international business essay? please, please get back to me as this is a really good presentation on protectionism.

[@nicholassteel3631]

This, like all other anti-tariff analysis, are flawed in that they fail to mention that when an advanced economy lowers its tariffs, it triggers an off-shoring of industrial capacity to low age nations. Large numbers of people are thrown onto welfare, domestic consumption falls (who can buy anything when you're on welfare?), the fiscal position worsens and the purchasing power of the nation's currency slumps. 50 million Americans on welfare, 17 Trillion Government debt. Says it all.

[@paulharris8551]

Showing a dead-weight loss doesn't end the argument. America has a comparative disadvantage when it comes to labor because our workers are used to higher wages than workers in third world countries. By the logic of free trade labor should be imported until such time as our workers agree to work for third world wages. As you point out, the government would try to make up the difference with welfare and other subsidies, which will come out of the taxes of the wealthy or else we'll borrow/print the money. It might have been better to put tariffs in place.

[@fabswarrior]

You helped me out, a lot!

[@jahnbolt]

could you please explain why the price of Sd rises when quantity increases?

[@NoNotLogan]

Ahhh i gotchya! That helps lots i'll remember ya in my finals in 4 days

[@tmwutt]

oh and is the tariff a form of taxation that the govt will collect revnue from and is it the domestic consumer surplus that is lost? and what is the dead weight loss? i know ive got questions but im new to this topic and really need to understand it!!! thanks if any one can help

[@justice4g]

so without tariffs how do you deal with every product coming in from sweat shops paying 20c / hour? domestic producers won't survive unless minimum wages are scrapped. btw, the largest growth period for the US was when government ran off tariffs alone and there was no income tax.

[@pajholden]

and when retaliatory tariffs are set against your exports, so exports decline (X Multiplier) then tariffs create net loss. Thanks for commenting.