The Illogic of Mercantilism, Case #56,867

by Don Boudreaux on January 30, 2011

in Seen and Unseen, Trade

From Mark Perry, through Steve Landsburg, Henry Hazlitt reminds us that to discourage imports is to discourage exports, and vice-versa.  Another name for this insight is the Lerner Symmetry Theorem (named after the late economist Abba Lerner) – as explained here by Doug Irwin.

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