Sunday , October 20 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 Quotation of the Day…

Don Boudreaux writes Pittsburgh Tribune-Review: “Talk about the trade deficit”

Don Boudreaux writes Commerce Is Still Doux

Don Boudreaux writes Bonus Quotation of the Day…

… 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Your email address will not be published.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 *