Artificial scarcities are not wealth

posted by
September 25, 2011
Cafe Hayek
by Don Boudreaux  
Posted in Commentary

"Pat Buchanan writes: You cannot have a rising standard of living when your highest-paid production jobs are being exported overseas. I suspect that the above sentence strikes most readers as merely stating an obvious, indeed trivial, truth. But it’s wrong. And understanding why it’s wrong -- why it’s wrong beyond its use of the familiar yet misleading notion that jobs are 'exported' -- is necessary to any informed discussion of trade." (09/23/11)  


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