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Bonus Quotation of the Day…

… is from page 24 of the 1978 reprint of the English-language translation of Ludwig von Mises‘s 1929 essay “Karl Menger and the Austrian School of Economics”* (translated by Albert Zlabinger); this reprint appears in Ludwig von Mises, The Clash of Group Interests and Other Essays (New York: Center for Libertarian Studies):

Protective trade policies divert production from where it can best take advantage of natural conditions, and thus reduce the abundance produced by economic activity and depress the standard of living of the masses.


* Menger‘s first name in this publication is misspelled “Karl”; its proper spelling is “Carl.”  (Menger’s son – born just weeks before his father turned 62 – was named “Karl.”)