Sunday, October 25, 2015

Economist Frank Knight: Protectionism in The Extreme Means Banning Trade


Flashback to economist Frank Knight in his article in the Journal of Political Economy titled " Laissez Faire: Pro and Con " December 1967, page 786 . Knight mocks protectionists:
Protectionists, are not absolutists- but why not? If the principle is sound at all, all trade should be stopped , making everyone economically self-sufficient.
Something to thing about the next time someone goes to Congress asking for a "favor".