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Quotation of the Day…

… is from page 283 of my teacher Leland Yeager’s, and of his co-author David Tuerck’s, still-relevant and important 1966 volume, Trade Policy and the Price System (footnote deleted; link added):

The British economist Sir Dennis Robertson has warned us not to mind whether or not the “temper of the age” makes some policy “politically impossible”: “Let us get the analysis right….”  In a similar vein, Professor Albert Rees has decried trimming by economists turned amateur politicians: “Unless thinking people try to decide what the best policies are, and then try to influence actual policy in the appropriate direction, there is no point in discussing policy issues at all.”