Topic: Infant Industry Argument
The validity of the Infant Industry Argument (IIA) is based on reasons and principles that underpin all the facets of life- economic, humanitarian (social) and political. In effect, this is to say that IIA matters must be tackled with adroitness and comprehensiveness it deserves, for herein, the corporate sector, the rights and interests of the consumer, international trade, diplomacy and relations join in the fray. This section therefore seeks to settle the matter on the validity of the practice.
First off, it is important to note that that the adoption of IIA has been instrumental in the nurturing of very nascent firms. The advantage with this practice is that it has been responsible for the protection of small and new business enterprises so that the same remain immune to unfair inconsistencies in market competition. By inconsistencies in market competition, it is meant that other competing firms, by the virtue of having been extant in the market for a longer time, have mastered effective management, market strategies and information dissemination and as such are able to stay afloat in the market, irrespective of market conditions at cheaper costs, while still recording accruals of profit; as opposed to the fledgling firm. Therefore, the ratification of the IIA policies essentially portends the according of a playing ground.
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