by yellow knife Thu Oct 15, 2015 8:55 am
Like Plantation sector, Manufacturing sector needs encouragement, motivation from government as subsidies and protectionism.
All leading economists are against Monopolies and Protectionism.
Regarding Monopolies is better to study Chaebols of South Korea.
Regarding Protectionism one should understand that all developed nations protected their local manufacturers for decades or more. But once such manufacturers can stand alone earlier they invaded countries to sell their products but in today's context they send us economic books to read and understand that it is always better to open up economy.
=============================
Alexander Hamilton was the first Treasury Secretary
who even coined the term Infant Industry to get sympathetic view for protectionism.
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