Supporting new industries Protecting infant industries Soliciting new economic enterprises
One means of supporting newly developing industries, as in high technology for example, is to protect the national industry against imports from abroad. Reasons put forward for such protection include: the need to assist new industries through the learning period (when the local industry cannot compete with already established foreign firms); the advantages arising from external benefits such as technical spin-offs.
Provided governments are well informed and pursue the public well-being in a disinterested way, their judgement on spin-offs is necessarily superior to markets because market prices cannot capture genuine externalities.
If an industry cannot attract adequate capital to see it through its learning period there is either a weakness in the capital market or investors evidently cannot be convinced that the industry offers a competitive rate of return. It is implausible that the capital markets of the industrial nations suffer from such weakness. Investors can make mistakes, because of misinformation or inadequate information, but there is no reason why governments should be less likely to do so, when their economic vision may be clouded by political requirements.
The Encyclopedia of World Problems and Human Potential is a collaboration between UIA and Mankind 2000, started in 1972. It is the result of an ambitious effort to collect and present information on the problems with which humanity is confronted, as well as the challenges such problems pose to concept formation, values and development strategies. Problems included are those identified in international periodicals but especially in the documents of some 60,000 international non-profit organizations, profiled in the Yearbook of International Organizations.
The Encyclopedia includes problems which such groups choose to perceive and act upon, whether or not their existence is denied by others claiming greater expertise. Indeed such claims and counter-claims figure in many of the problem descriptions in order to reflect the often paralyzing dynamics of international debate. In the light of the interdependence demonstrated among world problems in every sector, emphasis is placed on the need for approaches which are sufficiently complex to encompass the factions, conflicts and rival worldviews that undermine collective initiative towards a promising future.
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