Protectionism in agriculture is quite common all across the board is it not?
And India doesn't even fare that bad If I am not recalling it correctly.
I agree with you in your assessment that protectionism breeds inefficiency, but you are imposing your strictly one sided take on 'what should be' without stopping to consider 'why it is',
it's an answer fit for a class of undergrads, quotes and all, but has little to no real world value as its so generalist in its assumption.
Economics is a black art, and subjectivity matters more than the principles.
I agree with you in your assessment that protectionism breeds inefficiency, but you are imposing your strictly one sided take on 'what should be' without stopping to consider 'why it is',
it's an answer fit for a class of undergrads, quotes and all, but has little to no real world value as its so generalist in its assumption.
Economics is a black art, and subjectivity matters more than the principles.