Quotation of the Day…

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… is from pages 344-345 of William Bernstein’s excellent 2008 book, A Splendid Exchange: How Trade Shaped the World:

Inveighing against any further tariff increases, [Léon] Say argued that the struggle was not just between protection and free trade, but rather a mere facet of “that great combat of the individual against the state.”

DBx: Yes. Protectionists, including Trump and his MAGA crowd, are for the state and against the individual

Léon Say (1826-1896) – French finance minister in the Third Republic – was the grandson of Jean-Baptiste Say.