Seminar paper from the year 2012 in the subject Economics - International Economic Relations, Hamburg University of Applied Sciences, course: International economics, language: English, abstract: "Even if a domestic industry will, within some years, have a cost advantage over its foreign competitors, when the industry is young its costs will invariably be higher ... and it must therefore] be protected from lower-cost foreign competition" (Egger, 2006, p.9). The infant industry argument (IIA), initially devised by Alexander Hamilton (in 1791) and Friedrich List (in 1841) (Hoekman, 2001, p....