Archive for August 9th, 2011

free trade

A great 5-minute history lesson on free trade by Robert P. Murphy:

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…What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom.

This famous quotation stems from The Wealth Of Nations, Book IV, Chapter II, page 458.

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