ABSTRACT

IN CHAPTER THIRTEEN we explained why a country in the second or third phase of industrialisation has not fully developed its manufacturing capacity. And we showed how the goods manufactured in such a country are necessarily lower in quality and higher in price than those produced in a fully industrialised country. In the circumstances it has been argued that the granting of tariff protection to manufacturers must inevitably involve some sacrifice on the part of consumers and must appear to be unfair to them.