Quotation of the Day…
by Don Boudreaux
on April 25, 2018
… is from page 231 of my great teacher Leland Yeager’s, and David Tuerck’s, superb and still-relevant 1966 book, Trade Policy and the Price System; Leland died on Tuesday at the age of 93:
Free trade would change the pattern of production in the United States; no supporter thinks otherwise. Shifts of labor and resources out of some industries into others are essential to reaping its benefits…. A comprehensive program of protection against the need for change would be a program for economic stagnation. Industrial deaths as well as births are part of a progressive economy.
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