Increasing abundance is a blessing, not a curse

Source: Cafe Hayek
by Don Boudreaux

“Economists for generations have recognized that governments routinely intervene in ways that change patterns of comparative advantage and, hence, change patterns of trade. Yet most economists have also long recognized what too many non-economists miss, namely, the people who pay the price for such interventions are overwhelmingly the people whose governments so intervene, whether as ‘first movers’ or in response to similar interventions by other governments. In short, economists recognize that, say, we Americans are harmed rather than helped whenever our government obstructs or subsidizes our trade. This conclusion is not changed if such intervention is done in response to other governments obstructing or subsidizing the trade of their citizens.” (02/12/18)

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