Bonus Quotation of the Day…
by Don Boudreaux
on October 27, 2017
… is from page 51 of the 2015 Fourth Edition of Dartmouth economist Douglas Irwin’s superb book, Free Trade Under Fire:
Between a quarter and half of growth in U.S. total factor productivity may be attributed to new technology embodied in capital equipment. To the extent that trade barriers raise the price of imported capital goods, countries are hindering their ability to benefit from technologies that could raise productivity.
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