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“No country has ever produced domestic prosperity by restricting trade.” This sentence feels dogmatic to me. I would like to see a bunch of citations, and even
by whiddershins 9y ago
“No country has ever produced domestic prosperity by restricting trade.”
This sentence feels dogmatic to me. I would like to see a bunch of citations, and even then it would be hard to prove the negative.
- WalterBright 9y agoI'd like to see a case where it worked. In any case(!), the economic principle at work here is the law of comparative advantage. https://www.investopedia.com/terms/c/comparativeadvantage.asp https://www.investopedia.com/terms/c/comparativeadvantage.as... To claim that protectionism improves prosperity is to claim that the law of comparative advantage is incorrect.
- conanbatt 9y agoI shed a tear in Ricardian. Of all the purported liberal ideas the U.S. thinks it embraces, restriction of immigration is one of the most baffling.