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The Illogic of Mercantilism, Case #56,867

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From Mark Perry, through Steve Landsburg, Henry Hazlitt reminds us that to discourage imports is to discourage exports, and vice-versa [2].  Another name for this insight is the Lerner Symmetry Theorem (named after the late economist Abba Lerner [3]) – as explained here by Doug Irwin [4].

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