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The Foundational Economic Case for Free Trade

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During a lecture in the Spring 1981 International Trade Theory course that Fritz Machlup taught at NYU, Machlup noted that if the logic of protectionism is sound, it implies that the left hand should never trade with the right hand. ┬áIn order to achieve maximum possible prosperity, each side of each human body should be self-sufficient – if, again, the logic of protectionism is sound.

In this short video from the Free To Choose Network [2], Johan Norberg makes a similar point:

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