Tweet [1]
Here [2] — in the January 4, 2007, edition of the Christian Science Monitor — I have an open letter to Lou Dobbs.
My concluding paragraph is below. (The "Smith" I speak of is Adam Smith [3], although my colleague Vernon Smith [4] is of the same mind.)
Smith correctly understood that with free trade, the economy becomes
larger than any one nation – a fact that brings more human creativity,
more savings, more capital, more specialization, more opportunity, more
competition, and a higher standard of living to all those who can
freely trade.