One of the Best Short Treatises on Trade
Russ Roberts at Cafe Hayek has written one of the best, most sensitive (dare I say "beautiful"?) pieces on international trade that I have read in long time. Prompted by a book by and interview with his colleague and co-blogger, Don Boudreaux, Russ writes,
[T]here's no denying that it's very tough on a person who has invested most of his life in a particular skill to suddenly find that there's no demand for that skill. Yes, it's the price of progress and it's a price worth paying. Yes, it's not particular to foreign trade, as Don points out, but is the result of all kinds of economic change. But there is something deeply poignant about it, nevertheless.But these snippets do not do his posting justice. Please, please go read the entire thing. It'll take only a couple of minutes, and it will be well worth your time.
... [T]he real consolation for that worker who loses his job and struggles to find another that is as satisfying is knowing (if he knows any economics) that his children and grandchildren will lead better lives because we tolerate economic change.
Category: Economics, International Trade Posted on
Wednesday, January 23, 2008 at 8:55am
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