Fetish of industrialization
Fetish of industrialization: an expression used by Clair Wilcox in A Charter for World Trade (written in 1949) to describe what he calls an insistent demand in undeveloped countries that standards of living be improved, and an irrational belief that this improvement is to be obtained only through a rapid industrialization of their economies. He noted that this was almost always accompanied by severe restrictions on foreign trade. See also developing countries and the multilateral trading system, import substitution and infant-industry argument.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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