Society only progresses to the degree that its members progress, and the only means a man has to measure his progress is to consider the nature of his internal governance, his conscience. He must consider that which causes him to feel pleasure and that which causes him to feel pain, that which causes him to feel pride and that which causes him to feel guilt, that which causes him joy and that which causes him sadness.
External regulation cannot induce progress.
Here you can listen to a great interview by Bill Frezza of my Mercatus Center colleague Dan Griswold on the hidden benefits of trade. Here’s the blurb from Bill’s site:
Daniel Griswold, Senior Research Fellow and Co-Director of the Program on the American Economy and Globalization at the Mercatus Center at George Mason University, discusses the seemingly invisible benefits of free trade that bolster opportunities and businesses’ bottom line. Griswold debunks common myths about the U.S. trade deficit, manufacturing decline, and the negative impact of the North American Free Trade Agreement and explains why the Trans-Pacific Partnership is a welcome 21st century agreement.