How Do You Define Infant-Industry Theory?
Infant-Industry Theory means, The children's industry theory argues that emerging industries in developing countries need to be protected from competitive pressures until they mature and develop economies that can compete with their competitors. The youth industry argument is often used as a justification for protectionism and was developed by Alexander Hamilton and Friedrich List.
- The youth industry theory suggests that new industries in developing countries need to be protected from competitive pressures until they mature.
- Emerging industrial theory, first developed by Alexander Hamilton and Friedrich List in the early 19th century, has always been an argument for protectionist trade policies.
- Governments of developing countries can take steps such as import duties, tariffs, quotas and exchange rate control to give emerging industries time to develop and stabilize.
Literal Meanings of Infant-Industry Theory
Meanings of Infant:
Too young or child.
Sentences of Infant
Synonyms of Infant
baby, little child, little one, newborn, young child
Meanings of Industry:
Economic activities related to processing of raw materials and manufacture of goods in factories.
Sentences of Industry
American industrial competition
The kitchen has become an industry hub.
Synonyms of Industry
application, dedication, determination, sedulity, fabrication, sedulousness, pertinacity, perseverance, steadiness, tirelessness, diligence, rigorousness, conscientiousness, manufacturing, industriousness, rigour, production, construction, persistence, hard work, assiduity
Meanings of Theory:
Adopting ideas or systems for the purpose of explaining something, especially based on general principles, regardless of what is explained.
Sentences of Theory
Darwin's theory of evolution
Synonyms of Theory
premise, hypothesis, surmise, presumption, notion, thesis, conjecture, postulate, supposition, feeling, hunch, postulation, speculation, assumption, proposition, presupposition, suspicion, guess