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Bonus Quotation of the Day…

… is from page 4 of Tyler Cowen’s just-released book, Big Business: A Love Letter to an American Anti-Hero:

There is another reason American business has done well: the American economy is relatively effective, compared with other countries, in weeding out the worst firms through competitive pressures…. The problem with protectionism, which at first glance looks appealing because it claims to protect our workers, is that it becomes much harder for more productive businesses to displace the less productive ones, a fundamental source of economics progress.