Quotation of the Day…
by Don Boudreaux
on July 21, 2019
… is from page 384 of the 1936 English-language edition (translated from German by Alfred Stonier and Frederic Benham) of Gottfried Haberler’s classic 1933 work, The Theory of International Trade With Its Application to Commercial Policy:
Military language, containing expressions such as ‘economic front’ and ‘defensive positions,’ is especially inappropriate to the analysis of problems of international trade and of division of labour between countries because it constantly brings into prominence the fundamentally false mercantilist notion that the gain of one country must mean the loss of another.
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