Quotation of the Day…
Posted By Don Boudreaux On February 20, 2012 @ 8:46 am In Balance of Payments,Myths and Fallacies,Trade | Comments Disabled
… is from page 18 of Razeen Sally’s 2008 book New Frontiers in Free Trade: Globalization’s Future and Asia’s Rising Role [1]:
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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[1] New Frontiers in Free Trade: Globalization’s Future and Asia’s Rising Role: http://www.amazon.com/New-Frontiers-Free-Trade-Globalizations/dp/1933995211/ref=sr_1_1?s=books&ie=UTF8&qid=1329745582&sr=1-1
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