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Quotation of the Day…

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… is from page 14 of my late, great teacher Fritz Machlup’s 1977 book A History of Thought on Economic Integration [2], where he is discussing trade’s role in more closely integrating people into a single economy:

[T]he economics of the matter is the same whether it is different provinces of a state that become ‘more integrated’, or different nations within a bloc, or different blocs in the world as a whole.