Protectionism: the -ism which teaches that waste makes wealth

A clear and strong case for free trade against proctectionism. The chapter of the fallacies of protectionism is very thorough.

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Citation

Protectionism: the -ism which teaches that waste makes wealth (New York: Henry Holt and Company, 1888).

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Key Quotes

Free Trade

Now free trade is not a theory in any sense of the word. It is only a mode of liberty; one form of the assault (and therefore negative) which the expanding intelligence of the present is making on the trammels which it has inherited from the past. … Free trade is a revolt, a conflict, a reform, a…

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The State

If a state well performed its functions of providing peace, order and security, as conditions under which the people could live and work, it would be the proudest proof of its triumphant success that it had nothing to do — that all went so smoothly that it had only to look on and was never called…

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