Quotation of the Day…

by Don Boudreaux on September 16, 2016

in Balance of Payments, Seen and Unseen

… is from page 93 of the 1990 Transaction Publishers reprint of W.H. Hutt‘s 1936 book, Economists and the Public:

The  terms ‘safeguarding’, ‘bounties’, ‘favourable trade balance’, ‘rationalization’, ‘co-operation’, ‘planning’, ‘co-ordination’, are examples of the expression of power-thought in the form of euphemisms, of the attempt to convince the popular mind that protection is  not protection and monopoly not monopoly.

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