Protectionism is the policy of imposing legal burdens or restrictions on imports with the intention of hampering or preventing their competition with domestic products. It includes the use of embargoes, tariffs, import quotas, burdensome import regulations, foreign exchange controls, etc. A protective tariff, unlike a tariff for revenue, is designed to keep out imports rather than raise revenue.
- Percy L. Greaves, Jr. "Mises Made Easier ", 1974. Referenced 2014-08-20.