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Bonus Quotation of the Day…

… is from page 375 of the American economist Frank Knight‘s 1944 article “Human Nature and World Democracy,” as this article is reprinted in the 1982 Liberty Fund reissue of Knight’s 1947 collection, Freedom and Reform:

Unknown-2But it seems to be “human nature” to seek political domination in place of free international trade.  Little success has attended the efforts of modern economic teaching to get the general public, even in the most advanced and highly educated countries (specifically our own), to realize effectively and carry over into their political thinking the truism that in free exchange the advantage is mutual.