""Protectionism: The -Ism Which Teaches That Waste Makes Wealth"" is a book written by William Graham Sumner and published in 1885. The book is a critique of the economic theory of protectionism, which is the belief that a country should protect its industries from foreign competition by imposing tariffs and other trade barriers. Sumner argues that protectionism is based on a flawed understanding of economics and that it ultimately harms consumers...