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Let's talk about a hypothetical situation where there is a government-organised industrial development(leading to possible Industrial Revolution).
In such a case, would it be better for the government to implement mercantilism or free trade? why so?
*Meiji Japan is a good example except that it was forced to keep its tariffs low for several decades.
*If we are to assume several things before making the choice between the two, please state what we should assume.
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