The reason for the infant industry argument for protectionism which calls for an industry to be protected in its early stages is so that domestic producers can attain the economies of scale to allow them to compete in world markets.
What is the Infant industry argument?
The infant industry argument refers to the call for governments to protect emerging companies in their nation in industries that have been dominated by foreign players.
The need for protectionism is to ensure that the local companies can have the opportunity to start up and charge a high enough price to make some profit so that the industry can grow.
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