Mill and Infant Industry

Takashi Negishi and Takashi Negishi
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Takashi Negishi: The Japan Academy
Takashi Negishi: The University of Tokyo

Chapter Chapter 6 in Developments of International Trade Theory, 2014, pp 43-49 from Springer

Abstract: 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.

Keywords: Mill-Bastable Infant Industry dogma; Consumers’ and Producers’ Surplus; Dynamic internal economies; Dynamic external economies (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advchp:978-4-431-54433-3_6

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DOI: 10.1007/978-4-431-54433-3_6

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