No More Mercantilism

Here’s my favorite quotation today from the blogosphere.  It’s by Lynne Kiesling at Knowledge Problem:

So what if Someone Who Thinks He Is In Charge (or should be in charge)
thinks that we import too many finished goods from China? Isn’t
merchantilism hopelessly obsolete, so much so that we should find it
quaint instead of bothersome?

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