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Mill and Infant Industry

In: Developments of International Trade Theory

Author

Listed:
  • Takashi Negishi

    (The Japan Academy)

  • Takashi Negishi

    (The University of Tokyo)

Abstract

Starting with Adam Smith’s criticism against mercantilism, economists of the classical school generally advocated the free trade and were critical to the protection of domestic industries. J. S. Mill admitted, however, the protection of the so-called infant industry, though he imposes a condition which an industry must satisfy to be protected. Then, it was Bastable who followed Mill to add another necessary condition for protection. This Mill–Bastable infant industry dogma was discussed critically by some modern economists from the point of view of the dynamic theory of the gains from trade.

Suggested Citation

  • Takashi Negishi & Takashi Negishi, 2014. "Mill and Infant Industry," Advances in Japanese Business and Economics, in: Developments of International Trade Theory, edition 2, chapter 0, pages 43-49, Springer.
  • Handle: RePEc:spr:advchp:978-4-431-54433-3_6
    DOI: 10.1007/978-4-431-54433-3_6
    as

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