Wednesday, 28 March 2018

QotD: "Those who carry on trade always try to rid themselves of competition..."


"Those who carry on trade always try to rid themselves of competition; they always produce some sophistical arguments to prove that it is to the interest of the State to rid them at least of foreign competition, which they have no difficulty in representing as the enemy of national trade."~ French economist ARJ Turgot in a 1754 letter to Controller-General of Finances AbbĂ© Terray
[Hat tip Cafe Hayek]
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