What argument regarding the need for protectionism is recognized by economists as valid?
A) need to keep money at home
B) encouragement of capital accumulation
C) industrialization of a low-wage nation
D) conservation of natural resources
E) maintenance of employment and reduction of unemployment

Question

Quizplus · Accepted Answer

Economists recognize the "infant industry" argument as valid, which suggests that protectionism can help a low-wage nation industrialize by allowing new industries to develop without being immediately outcompeted by established foreign competitors.

What Argument Regarding the Need for Protectionism Is Recognized by Economists