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- Infant_industry_argument abstract "The infant industry argument is an economic rationale for trade protectionism. The core of the argument is that nascent industries often do not have the economies of scale that their older competitors from other countries may have, and thus need to be protected until they can attain similar economies of scale. The argument was first fully articulated by Alexander Hamilton in his 1790 Report on Manufactures, was systematically developed by Daniel Raymond, and was later picked up by Friedrich List in his 1841 work The National System of Political Economy, following his exposure to the idea during his residence in the United States in the 1820s.Many countries have successfully industrialized behind tariff barriers. For example, from 1816 through 1945, tariffs in the USA were among the highest in the world. According to Ha-Joon Chang, "Almost all of today’s rich countries used tariff protection and subsidies to develop their industries."Despite this, infant industry protection is controversial as a policy recommendation. As with the other economic rationales for protectionism, it is often abused by rent seeking interests. Even when infant industry protection is well–intentioned, it is difficult for governments to know which industries they should protect; "infant" industries may never "grow up" relative to "adult" foreign competitors. For example, during the 1980s Brazil enforced strict controls on the import of foreign computers in an effort to nurture its own "infant" computer industry. This industry never matured; the technological gap between Brazil and the rest of the world actually widened, while the protected industries merely copied low-end foreign computers and sold them at inflated prices. In addition, countries that put up barriers to imports will often face retaliatory barriers to their exports, potentially hurting the same industries that infant industry protection is intended to help.Ernesto Zedillo, in his 2000 report to the UN Secretary-General, recommended "Legitimising limited, time-bound protection for certain industries by countries in the early stages of industrialisation," arguing that "However misguided the old model of blanket protection intended to nurture import substitute industries, it would be a mistake to go to the other extreme and deny developing countries the opportunity of actively nurturing the development of an industrial sector."".
- Infant_industry_argument thumbnail Hamiltontrumbull-crop.jpg?width=300.
- Infant_industry_argument wikiPageID "1859820".
- Infant_industry_argument wikiPageRevisionID "578776708".
- Infant_industry_argument hasPhotoCollection Infant_industry_argument.
- Infant_industry_argument subject Category:Arguments.
- Infant_industry_argument subject Category:Economic_ideologies.
- Infant_industry_argument subject Category:Protectionism.
- Infant_industry_argument type Abstraction100002137.
- Infant_industry_argument type Argument106648724.
- Infant_industry_argument type Arguments.
- Infant_industry_argument type Attitude106193203.
- Infant_industry_argument type Cognition100023271.
- Infant_industry_argument type Communication100033020.
- Infant_industry_argument type EconomicIdeologies.
- Infant_industry_argument type Evidence106643408.
- Infant_industry_argument type Indication106797169.
- Infant_industry_argument type Orientation106208021.
- Infant_industry_argument type PoliticalOrientation106212839.
- Infant_industry_argument type PsychologicalFeature100023100.
- Infant_industry_argument comment "The infant industry argument is an economic rationale for trade protectionism. The core of the argument is that nascent industries often do not have the economies of scale that their older competitors from other countries may have, and thus need to be protected until they can attain similar economies of scale.".
- Infant_industry_argument label "Argumento da indústria nascente".
- Infant_industry_argument label "Argumento de la industria naciente".
- Infant_industry_argument label "Infant industry argument".
- Infant_industry_argument sameAs Argumento_de_la_industria_naciente.
- Infant_industry_argument sameAs Argumento_da_indústria_nascente.
- Infant_industry_argument sameAs m.061rj3.
- Infant_industry_argument sameAs Q6028896.
- Infant_industry_argument sameAs Q6028896.
- Infant_industry_argument sameAs Infant_industry_argument.
- Infant_industry_argument wasDerivedFrom Infant_industry_argument?oldid=578776708.
- Infant_industry_argument depiction Hamiltontrumbull-crop.jpg.
- Infant_industry_argument isPrimaryTopicOf Infant_industry_argument.
