Today’s Quote of the Day…

…is from page 35 of Economic Sophisms by Frederic Bastiat (1964 Foundation for Economic Education edition):

Moreover, free trade also equalizes the conditions of enjoyment, of satisfaction-in short, of consumption.  People seem never to take this aspect of the matter into consideration; yet it is the crux of the whole discussion, since, after all, consumption is the ultimate goal of all our productive efforts.  Under a system of free trade, we should enjoy the benefits of the Portuguese sun just as Portugal itself does; and the inhabitants of Le Harve would have just as much access to the advantages that Nature has conferred upon Newcastle in the form of mineral resources, and under the same conditions, as the people of London do.

JMM: Free trade is the ultimate sharing of the wealth.  Despite living in Virginia, I can enjoy the same goods as people all over the country and the world.  I needn’t live in Florida to get oranges, or India to get curry, or England to get tea.  I can enjoy these things just as equally as if I lived in Miami, or Bombay, or London (and likewise they can enjoy tobacco, dairy, and soybeans just as they lived in Richmond).

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