Coherent Identifier About this item: 20.500.12592/dckf7x

Indian Journal of Economics October 1947




in the administration of the policy the government manifested a greater rigidity in the application of the principles than even the Tariff Board. [...] In the case of two industries namely glass and worsted the absence of some of the raw materials in the country stood in the way of granting protection. [...] At the same time the range of prices of the products of the industries will indicate the degree of success achieved and will incidentally measure the burden on the consumer. [...] An Appraisal of Progress At this stage it would be profitable to assess the effects of the policy of Discriminating Protection in the light of the actual development of industries in the country. [...] Under the regime of division of labour observed Adam Smith the greater part of the wants of an individual are supplied by the produce of other men's labour which he purchases with the produce or which is the same thing with the price of the produce of his own".2 Before this can be done however the individual has to complete his own production and sell the output.


commerce industry

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