Rethinking Trade and Commercial Policy Theories
Show Less

Rethinking Trade and Commercial Policy Theories

Development Perspectives

P. Sai-wing Ho

This controversial book offers a unique approach to rethinking the trade and development literature and will therefore strongly appeal to researchers, academics, and students of trade and development as well as those involved in the history of economic thought.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 7: Hamilton: Promoting Development of America through a Multitude of Policy Instruments

P. Sai-wing Ho


7.1 INTRODUCTION With the history of the formulation of the mainstream theory of commercial policy portrayed in the previous chapter, the time has arrived for a meticulous re-examination of the works of the so-called 'protectionists'. Were they, as the history of that mainstream theory has represented, simpleminded protectionists who supported solely the use of protective duties to promote infant industries? If not, what exactly did they advocate? This chapter re-examines the developmental ideas of Hamilton. l As is well known, his lineage in the evolution of the infant-industry argument for protection in accordance with the mainstream version of the history has been claimed. Thus, Bastable noted that Hamilton's answer to those who maintained that manufactures would arise 'under the normal action of individual interest' was by 'anticipating the "infant industry" argument familiar to readers of J. S. Mill's Political Economy' (1912, pp. 120-21). Separately, Haberler concluded that, 'The infant-industry argument for tariffs was clearly formulated as early as 1790 by Alexander Hamilton in his Report on Manufactures' (1937, p. 278). To this Robbins added that 'he made out a very powerful case [for protection of industry], a case which was accepted by John Stuart Mill' (1998, p. 240). Similarly, but perhaps attracting greater attention, Baldwin (1969) affirms that lineage in his oft-cited article in the literature of trade and development, 'The case against infant-industry tariff protection' . In his words, The essential point stressed by infant-industry proponents since Hamilton (1791) and List (1856) fIrst wrote on the subject is that production...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.