8 National defense, industrial diversity, and the infant-industry arguments can be used to justify trade restrictions for

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8 National defense, industrial diversity, and the infant-industry arguments can be used to justify trade restrictions for specific industries under certain conditions. However.

it is clear that the power of special interest groups and ignorance about the harmful effects offer the m<'l:ior explanations for real-world protectionist public policy.

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Essentials Of Economics

ISBN: 396414

2nd Edition

Authors: James D Gwartney; Richard Stroup; J R Clark

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