Quotation of the Day…

by Don Boudreaux on February 20, 2012

in Balance of Payments, Myths and Fallacies, Trade

… is from page 18 of Razeen Sally’s 2008 book New Frontiers in Free Trade: Globalization’s Future and Asia’s Rising Role:

Many protectionist ideas – accumulating trade surpluses, protecting infant industries, and securing national positions in zero-sum international competition – hark back to traditional mercantilism.  They are products of preanalytic, pop-internationalist, do-it-yourself economics, bereft of sound economic analysis and supporting real-world evidence.  That does not make them less popular and less politically influential.

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