“Protectionism becomes socialism.”
Protectionism is a great political idea - until EVERY industry in your country begins to ask for protection from competitors.
After that, prices and inflation surge.
Frédéric Bastiat
Economist
Claude-Frédéric Bastiat was a French economist and author who was a prominent member of the French Liberal School. He developed the economic concept of opportunity cost, and introduced the Parable of the Broken Window. Wikipedia
Born: June 29, 1801, Bayonne, France
Died: December 24, 1850, Rome, Italy
School or tradition: Classical liberalism
Contributions: The Law (La Loi)
Quotes:
Government is the great fiction, through which everybody endeavors to live at the expense of everybody else.
Everyone wants to live at the expense of the state. They forget that the state wants to live at the expense of everyone.
When goods do not cross borders, soldiers will.
Frédéric Bastiat - Wikipedia
https://en.wikipedia.org/wiki/Frédéric_Bastiat
Forgot to ping you when I posted this!