Friday , July 19 2019
Home / Cafe Hayek / Quotation of the Day…

Quotation of the Day…

Summary:
… is from pages 376-377 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 (original emphasis; footnote deleted): The peculiarity of such an ‘exchange’ [as occurs when governments negotiate trade agreements with each other] is that the surrender of its own exchange-object – the reduction of its own duties – is in reality no sacrifice…. It is the increase and not the reduction of duties which is the real economic burden! Comments

Topics:
Don Boudreaux considers the following as important: ,

This could be interesting, too:

Don Boudreaux writes Do Allegations of IP Theft by the Chinese Justify Uncle Sam’s Violations of American Consumers’ Rights?

Don Boudreaux writes Managed Trade Is Not Free Trade

Don Boudreaux writes Quotation of the Day…

Don Boudreaux writes Their Actions Belie Their Words

… is from pages 376-377 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 (original emphasis; footnote deleted):

Quotation of the Day…The peculiarity of such an ‘exchange’ [as occurs when governments negotiate trade agreements with each other] is that the surrender of its own exchange-object – the reduction of its own duties – is in reality no sacrifice…. It is the increase and not the reduction of duties which is the real economic burden!

Comments

Don Boudreaux
He is a professor of economics at George Mason University in Fairfax, Virginia. Previously, he was president of the Foundation for Economic Education.

Leave a Reply

Your email address will not be published. Required fields are marked *