Protectionism is trickle-down economics

When people propose to impose restrictions on trade their intent is to help the workers by preserving jobs and pay. But research finds that is not the result. Almost all the benefits go to the companies, not the workers. "But the companies might pass on the benefits," you say. They might, but it's up to owners/managers whether they trickle it down to their employees.

On the other hand, free-market capitalism most benefits those at the bottom. Then as they have more work and more pay they buy more and the benefits "trickle up." According to a study by William Nordhaus of Yale at NBER (pdf) only 2% of the value of technology advances go to the business owners; the rest to the workers.

Via A Force for Good