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Quotation of the Day…

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… is from page 124 of Columbia University economics professor Arvind Panagariya’s excellent forthcoming book, Free Trade and Prosperity [2]; the free-trade critics who Panagariya singles out for this criticism are Ha-Joon Chang and Dani Rodrik:

When it comes to causation, free trade critics have offered absolutely nothing: they have conducted no econometric analysis worth its salt showing that high and rising barriers to trade lead to faster growth.

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