Quotation of the Day…

(Don Boudreaux)

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… is from page 73 of Robert Lawson’s excellent paper “Economic Freedom in the United States and Other Countries,” which is chapter 3 of the volume What America’s Decline In Economic Freedom Means for Entrepreneurship and Prosperity (Donald J. Boudreaux, ed., 2015):

In our modern world of high technology and low costs for communication and transportation, freedom of exchange across national boundaries is a key ingredient of economic freedom. Many goods and services are now either produced abroad or contain resources supplied from abroad. Voluntary exchange is a positive-sum activity: both trading partners gain and the pursuit of the gain provides the motivation for the exchange. Thus, freedom to trade internationally also contributes substantially to our modern living standards.

DBx: All chapters of the 2015 volume in which Bob Lawson’s paper appears are available here.