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Quotation of the Day…

Posted By Don Boudreaux On April 22, 2012 @ 8:38 am In Growth,History,Trade | Comments Disabled

… is from page 64 of Joel Mokyr’s 2009 book, The Enlightened Economy: An Economic History of Britain 1700-1850 [1]:

By the start of the eighteenth century, the British state was still wedded to mercantilist principles, which were in many ways a justification for rent-seeking (Ekelund and Tollison, 1981 [2]).  Enlightenment thought challenged the basic assumption of the mercantilist world, namely that the economic game, and above all the commerce between nations, was zero-sum such that the gains of any agent or any economy inevitably came at the expense of another.

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[1] The Enlightened Economy: An Economic History of Britain 1700-1850: http://www.amazon.com/Enlightened-Economy-Economic-History-1700-1850/dp/0300124554/ref=sr_1_1?s=books&ie=UTF8&qid=1329310175&sr=1-1

[2] Ekelund and Tollison, 1981: http://www.amazon.com/Mercantilism-Rent-Seeking-Society-Regulation-Perspective/dp/0890961204/ref=sr_1_2?s=books&ie=UTF8&qid=1335098169&sr=1-2

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