But the greatest obstacle of all to the successful…
“But the greatest obstacle of all to the successful prosecution of a new branch of industry in a country, in which it was before unknown, consists . . . in the bounties, premiums, and other aids which are granted, in a variety of cases, by the nations, in which the establishments to be imitated are previously introduced.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
New industries struggle because governments grant subsidies and protections to established foreign competitors, hindering local innovation.
In simple terms: Government aid to foreign firms blocks domestic industry growth.
Key Takeaway
Advocate fair support for emerging local businesses.
Themes
economics
government policy
industry development
Mood
analytical
critical
Type
economic
political
When to use this quote
- startup funding
- policy reform
- trade negotiations
- economic planning
Key Concepts
protectionism
innovation barriers
Questions to Reflect On
- What policies best foster homegrown industry?
- How can we balance protection with competition?
A Different Perspective
Overreliance on subsidies can create dependency.