Abstract
Opposing arguments for free trade and protection constitute the longest-standing policy debate in the history of economic thought. In this debate the infant-industry argument has acquired pride of place as an exception to free trade – especially as trade theory now gives more attention to explicitly dynamic analysis instead of being confined to comparative statics. But the argument must be carefully stated, and when expressed in its precise modern form its applicability is narrowly limited.
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Meier, G.M. (2018). Infant Industry. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_707
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DOI: https://doi.org/10.1057/978-1-349-95189-5_707
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