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Quotation of the Day…

Posted By Don Boudreaux On July 5, 2011 @ 10:00 pm In Standard of Living,Trade | Comments Disabled

… is from page 17 of Frederic Bastiat [1]‘s Economic Sophisms [2]:

So true is this that our protective tariffs have no other purpose than to hinder all these things from reaching us, to restrict the supply, and prevent low prices and abundance.

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Now I would ask, Are the people who live under our laws better fed because there is less bread, meat, and sugar in the country? Are they better clothed because there is less cloth and linen? Better warmed because there is less coal? Better assisted in their labor because there are fewer tools and less iron, copper, and machinery?

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[1] Frederic Bastiat: http://www.econlib.org/library/Enc/bios/Bastiat.html

[2] Economic Sophisms: http://www.amazon.com/Economic-Sophisms-Claude-Fr%C3%A9d%C3%A9ric-Bastiat/dp/1103445340/ref=sr_1_3?s=books&ie=UTF8&qid=1309917523&sr=1-3

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