In this book, first published in 1890, the author endeavours to determine whether protectionism or free trade better accords with the interests of labour – particularly with regards to the raising of wages. He analyses the popularity of protection in the face of the evidence of its fallacies, and examines the principle of free trade and its consequences.
1. Introduction 2. Clearing Ground 3. Of Method 4. Protection as a Universal Need 5. The Protective Need 6. Trade 7. Production and Producers 8. Tariffs for Revenue 9. Tariffs for Protection 10. The Encouragement of Industry 11. The Home Market and Home Trade 12. Exports and Imports 13. Confusions Arising from the Use of Money 14. Do High Wages Necessitate Protection? 15. Of Advantages and Disadvantages as Reasons for Protection 16. The Development of Manufactures 17. Protection and Producers 18. Effect of Protection on American Industry 19. Protection and Wages 20. The Abolition of Protection 21. Inadequacy of the Fee Trade Agreement 22. The Real Weakness of Free Trade 23. The Real Strength of Protection 24. The Paradox 25. The Robber That Takes All That Is Left 26. True Free Trade 27. The Lion in the Way 28. Free Trade and Socialism 29. Practical Politics 30. Conclusion