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" "The economic betterment of a nation which is at a low level of intelligence and culture, or in which the population is small in relation to the extent and productivity of its territory, is best accomplished through free trade with highly cultivated, rich, and industrious nations. In the case of such a country every restriction of trade, intended to plant manufacturing industry within its borders, is premature and injurious, not only to the welfare of mankind in general, but to the progress of the nation itself. Only when the intellectual, political, and economic education of the nation has so far advanced as a result of free trade that its further progress would be checked and hindered by the import of foreign manufactures and the lack of a sufficient market for its own goods, can protective measures be justified.
Georg Friedrich List (August 6, 1789 – November 30, 1846) was a German born economist and political activist. He was also a public accountant, entrepreneur, publisher, academic professor, German parliamentarian, and American diplomat. List is considered a father of modern development economics, industrial policy, pragmatic customs policy, taxation- , communication- and infrastructure theory, theory of human capital and national innovations systems.
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