industry and competition, environmental concerns, and issues of safety and security.

The infant industry argument for protectionism is that small domestic industries need to be temporarily

nurtured and protected from foreign competition for a time so that they can grow into strong competitors. In

some cases, notably in East Asia, this approach has worked. Often, however, the infant industries never grow

up. On the other hand, arguments against dumping (which is setting prices below the cost of production to

drive competitors out of the market), often simply seem to be a convenient excuse for imposing protectionism.

Low-income countries typically have lower environmental standards than high-income countries because they

are more worried about immediate basics such as food, education, and healthcare. However, except for a small

number of extreme cases, shutting off trade seems unlikely to be an effective method of pursuing a cleaner

environment.
{"creationdate": "2022-12-07T14:15:44-06:00", "creator": "PDFMiner", "file_hash": "830b81f41611ac67a490444dbb5d6aed292224606965b06965b914443c93331a", "file_size_mb": 26.99, "batch_upload": true, "total_pages": 597, "title": "Principles of Microeconomics 3e", "producer": "Prince 14.2 (www.princexml.com)", "file_name": "Microeconomics3e.pdf", "file_type": ".pdf", "upload_timestamp": "2026-02-07T15:24:38.309401", "source_file": "downloads\\business\\economics\\Microeconomics3e.pdf", "source": "downloads\\business\\economics\\Microeconomics3e.pdf", "uploaded_via": "batch_uploader", "moddate": "2022-12-07T14:23:05-06:00"}