Attention Economy


Sunday, December 18, 2016

[For the Intelligent Reader] Job Losses Arising from International Trade: Fact versus Fiction

Thank god, we are still left with a few reasonably smart Homo Sapiens:

“It is the maxim of every prudent master of a family, never to attempt to make at home what it will cost him more to make than to buy. ... If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it of them with some part of the produce of our own industry, employed in a way in which we have some advantage.” – Adam Smith (1776)