International Economics
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Read on Hacker NewsAre there any well-regarded economists who think the infant industry argument is a good argument? Mankiw mentions it briefly in The Principles of Economics [1], which if I recall correctly is the most widely-used economics textbook, saying "Economists are often skeptical about such claims, largely because the infant-industry argument is difficult to implement in practice...many economists are skeptical about the infant-industry argument in principle...Protection is not necessary for an infant industry to grow." Paul Krugman spends a few pages on it in International Economics: Theory and Policy [2], saying "The infant industry argument seems highly plausible, and in fact it has been persuasive to many governments. Yet economists have pointed out many pitfalls in the argument, suggesting that it must be used cautiously. First, it is not alw…
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