Quotation of the Day…

by Don Boudreaux on February 14, 2019

in Myths and Fallacies, Trade

… is this Facebook post, yesterday, by Bob Higgs; the background here is the refrain chanted incessantly by historically ignorant protectionists that high U.S. tariffs in the 19th century helped to fuel that era’s impressively vigorous U.S. economic growth:

Protectionists are the sort of people who, having discovered that John D. Rockefeller had a trusted employee in his office who surreptitiously stole $100 a week from Standard Oil’s coffers for forty years, would argue that these thefts explain why John D. Rockefeller got fabulously rich during the same period.


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