Nuggets and Aphorisms
Food for thought. These first appeared in Amit Varma's blog, India Uncut
Monday, June 20, 2005
Trade and employment
We cannot increase employment by restricting trade.1028 economists, in a protest letter against the Hawley-Smoot tariff bill, shortly before it was signed on June 17, 1930. Quoted recently in "A day of import" by Thomas Sowell, that warns against the USA repeating such a huge mistake. The truism quoted above has universal relevance, though.
(Link via Cafe Hayek.)