Bonus Quotation of the Day…

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… is from page 7 of Eamonn Butler’s 2021 book, An Introduction to Trade & Globalisation:

Trade delivers non-economic benefits, too. There is good evidence that it promotes international trust, cooperation and understanding. It is associated with political freedom, the rule of law, honesty, freedom of speech and other liberal values. It even defuses nationalism and ethnic conflict, and promotes peace, fairness and equality. After all, people who want to reap the benefits of trade must learn to cooperate.

DBx: Of course trade doesn’t guarantee any of these excellent benefits. But “guarantee” is an inappropriate standard. Trade does indeed promote the creation of these excellent benefits. And that’s a splendid thing.