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During the 1928 presidential election​ campaign, Herbert​ Hoover, the Republican​ candidate, argued that the United States should only import those products that could not be produced here. Do you believe that this would be a good​ policy? Explain.

User Tcatchy
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Answer:

Yes, I believe that this would be a good policy.

Step-by-step explanation:

In International political economy, nation states have to channel their energy into that for which they have much resources to achieve in order to cut down on cost and as no nation can live in isolation, we must depend partly on other nations. This is the maxim behind the "Comparative Economic advantage".

Importing that which the country cannot produce also creates employment for the citizenry as these foreign products can now be sold by locals to meet the needs of those who desire them.

In addition, the country can also gain by learning the tricks in the production of these products as they come into the country. This is especially relevant in the area of ICT. Albeit in the course of allowing these goods into the country, the country must not allow itself to be turned into a dumping ground.

User Ikumi
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