Quotation of the Day

From Frederic Bastiat’s fantastic 1873 book “Economic Sophisms.”  Although he wrote these words nearly 150 years ago, he could have easily been saying them to Trump or Sanders.

But, you say, if foreigners flood us with their products, they will carry off our money!

Well, what difference does that make? Men are not fed on cash, they do not clothe themselves with gold, nor do they heat their houses with silver. What difference does it make whether there is more or less money in the country, if there is more bread in the cupboard, more meat in the larder, more clothing in the wardrobe, and more wood is the woodshed?

4 thoughts on “Quotation of the Day

    • Yes, yes he does.

      Actually it is only intuitive for those who don’t understand the role of money and who also have a baseless distrust of foreigners.

      One could as easily fear that when they can load up their shopping cart in the supermarket at laughably low prices, that the grocer will “carry off their money”. I don’t know anyone who would say that, because it sounds silly, but it is exactly the same statement as the one about foreigners.

      Trade is good. More trade is better.

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