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A Bastiatian Thought from New Zealand

University of Canterbury economist Eric Crampton (PhD from GMU!) offers this thought on trade:

I’d be very very happy if I could, from the Principality of Cramptonia in South Brighton, Christchurch, import much more from my local supermarket without having to export more services to the University of Canterbury. And, indeed, if anyone is willing to dump products on Cramptonia at less than their cost of production, so long as I value the goods, I’m more than happy for them to do so.

Me too!