Infant industry argument
From Mises Wiki, the global repository of classical-liberal thought
Infant industry argument is the argument that the domestic economy needs and can support certain new industries but that they cannot be started without the temporary assistance of a protective tariff until they grow large enough and efficient enough to compete with the already established industries of foreign nations. It is generally implied that the protective tariff will no longer be necessary after the industries have "matured" and that the nation will benefit in the long run from the early establishment of such industries.[1]
References
- ↑ Percy L. Greaves, Jr. "Mises Made Easier ", 1974. Referenced 2014-07-17.
