Pretectionism in rtrospect : Mihail manoilescu (1891-1950?)
By: BOBULESCU, Roxana
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ArticlePublisher: São Paulo : Editora 34, out./dez. 2003Revista de Economia Política = Brazilian Journal of Political Economy 23, 4 , p. 114-123Abstract: This paper examines Mihail Manoilescu's Theory of Protectionism. Its main point was the defense of a permanent or general protection of high productivity sectors, contrasting with List's temporary protection of infant industries. Manoilescu's reasoning goes into a contradiction. He argued that the productivity of agriculture and the productivity of industry would equalize in the long-term. In that case, protection would no longer be necessary. So, his argument needs an additional assumption, that is variable costs of production. Manoilescu mentioned the presence of increasing returns in industry and decreasing returns in agriculture in an appendix. This assumption renders his theory very similar with Graham's argument and contemporary mainstream analysis of trade and protection (P. Krugman, I. Magaziner and R. Reich)
This paper examines Mihail Manoilescu's Theory of Protectionism. Its main point was the defense of a permanent or general protection of high productivity sectors, contrasting with List's temporary protection of infant industries. Manoilescu's reasoning goes into a contradiction. He argued that the productivity of agriculture and the productivity of industry would equalize in the long-term. In that case, protection would no longer be necessary. So, his argument needs an additional assumption, that is variable costs of production. Manoilescu mentioned the presence of increasing returns in industry and decreasing returns in agriculture in an appendix. This assumption renders his theory very similar with Graham's argument and contemporary mainstream analysis of trade and protection (P. Krugman, I. Magaziner and R. Reich)
Revista de Economia Política v.23 n.4
Outubro-Dezembro 2003
v. 23, n. 4(92)
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