Bonus Quotation of the Day…

by Don Boudreaux on March 6, 2018

in Adam Smith, Economics, Trade

… is from page 59 of the Laissez Faire Books’s 1996 50th-anniversary edition of Henry Hazlitt’s remarkable 1946 volume, Economics In One Lesson; this is the lead paragraph of Chapter XI (“Who’s ‘Protected’ By Tariffs?”):

A mere recital of the economic policies of governments all over the world is calculated to cause any serious student of economics to throw up his hands in despair.  What possible point can there be, he is likely to ask, in discussing refinements and advances in economic theory, when popular thought and the actual policies of governments, certainly in everything connected with international relations, have not yet caught up with Adam Smith?

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