From Mark Perry, through Steve Landsburg, Henry Hazlitt reminds us that to discourage imports is to discourage exports, and vice-versa. Another name for this insight is the Lerner Symmetry Theorem (named after the late economist Abba Lerner) – as explained here by Doug Irwin.
The Illogic of Mercantilism, Case #56,867
Share
Previous post: A Proposal in the Public Interest
Next post: Demythologizing Democracy
