Quotation of the Day…
(Don Boudreaux)
… is from pages 229-230 of the late, great UCLA economists Armen A. Alchian’s and William R. Allen’s Universal Economics (2018; Jerry L. Jordan, ed.); this volume is an updated version of Alchian’s and Allen’s magnificent and pioneering earlier textbook, University Economics:
We gain from what we get, not from what we give up. We gain from imports embodying foreign resources; exports are a cost, a drain, for our economy, with American production utilized by the rest of the world.
DBx: Indeed so. And so, therefore, that great geyser of cronyism, the U.S. Export-Import Bank, by subsidizing foreigners’ purchases of American exports, uses American taxpayers’ money to fund a net drain of resources from the American economy. The fact that such an agency as the Ex-Im Bank not only survives, but is widely (although not universally!) regarded as beneficial, testifies to the toxic mixture of grotesque cronyism with the general-public’s appalling economic ignorance.
Source: https://cafehayek.com/2022/02/quotation-of-the-day-3794.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).