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The Tariff History of the United States
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Frank William Taussig starts The Tariff History of the United States by explaining the only protectionist argument accepted by some economists was the protection of young industries. This is commonly called the “infant-industry argument.” The goal is to temporarily protect young industries until they’re able to compete with foreign producers.
He argues that even if the infant-industry argument could be theoretically defensible under some conditions, that wasn’t the primarily concern. Tari…
He argues that even if the infant-industry argument could be theoretically defensible under some conditions, that wasn’t the primarily concern. Tari…