" We candlemakers are suffering from the unfair competition of a foreign rival. This foreign manufacturer of light has such an advantage over us that he floods our domestic market with his product. And he offers it at an absurdly low price. The moment this foreigner appears in our country, all our customers desert us and turn to him. As a result, an entire domestic industry is rendered completely stagnant. And even more, since the lighting industry has countless ramifications with other national industries, they too are injured. This foreign manufacturer who competes with us without mercy is none other than the sun itself.
-- Frederic Bastiat, Economic Sophisms
--quoted by Clarence Carson, in Basic Economics
2 comments:
That sounds eerily familiar...
Mm, yeah... :| The United States has rather revived protective tariffs...
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