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Protectionism in Retrospect: Mihail Manoilescu (1891-1950?)

Author

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  • Roxana Bobulescu

Abstract

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 main- stream analysis of trade and protection (P. Krugman, I. Magaziner and R. Reich). JEL Classification: B27; F10; L52; O24.

Suggested Citation

  • Roxana Bobulescu, 2003. "Protectionism in Retrospect: Mihail Manoilescu (1891-1950?)," Brazilian Journal of Political Economy, Center of Political Economy, vol. 23(4), pages 622-632.
    • Handle: RePEc:ekm:repojs:v:23:y:2003:i:4:p:622-632:id:919
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/919/2119
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    Citations

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    Cited by:

    1. Nikolay NENOVSKY & Kiril TOCHKOV & Camélia TURCU, 2011. "Monetary Regimes and EU Accession: Comparing Bulgaria and Romania," LEO Working Papers / DR LEO 1251, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    2. Nikolay NENOVSKY, 2010. "Bulgarian Economists during The Great Depression," LEO Working Papers / DR LEO 286, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.

    More about this item

    Keywords

    Protectionism; trade; productivity; Manoilescu; Graham;
    All these keywords.

    JEL classification:

    • B27 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - International Trade and Finance
    • F10 - International Economics - - Trade - - - General
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy

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