infant industry argument
Definition
Protectionist reasoning that industrial startups need safeguards against established foreign manufacturers and cutthroat competitors, especially in developing economies. This protection is commonly sought by enacting high import duties and/or import quotas. Although frowned upon by the World Trade Organization in this era of globalization, virtually every country, at one time or another and in one form or other, has instituted such measures to protect its threatened enterprises.
Use this term in a sentence
“ You should try to make sure that you are not doing anything that may strengthen someones infant industry argument against you. ”
“ I did not like arguments and felt like they all were wrong, so nothing changed my mind when I heard the infant industry argument. ”
“ The way that certain companies are taking advantage of people is so unfair. There needs to be strict laws about how industries are taking advantage. There should be many infant industry arguments that inform about these types of circumstances. ”
