Quotation of the Day…

by Don Boudreaux on November 30, 2012

in Crony Capitalism, Trade

… is from Roderick Long’s translation of Yves Guyot’s February 1912 obituary, in the Journal des Economistes, of Gustave de Molinari; Guyot here quotes from Molinari’s final book:

In his final volume, Ultima Verba, M. de Molinari, after having examined protectionist arguments old and new, concludes: “These are arguments for show.  The most ardent defenders of the protective tariff do not take them seriously. …  Protectionism is nothing but political power placed in the service of certain political interests in opposition to the general interest.”

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