"In enacting restrictive measures governments and parliaments have hardly ever been aware of the consequences of their meddling with business. Thus, they have blithely assumed that protective tariffs are capable of raising the nation’s standard of living, and they have stubbornly refused to admit the correctness of the economic teachings concerning the effects of protectionism. The economists’ condemnation of protectionism is irrefutable and free of any party bias. For the economists do not say that protection is bad from any preconceived point of view. ***They show that protection cannot attain those ends which the governments as a rule want to attain by resorting to it.*** They do not question the ultimate end of the government’s action; they merely reject the means chosen as inappropriate to realize the ends aimed at." Mises, Human Action, p. 745.
Making America Poor Again....
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