"To defend the truth, to articulate it with humility and conviction, and to bear witness to it in life are therefore exacting and indispensable forms of charity."

H. H. Benedict XVI. Caritas in Veritate Encyclical. June 29, 2009

Saturday, March 24, 2012

The market for protectionism

Protection from competition provided through coercion to competitors is like any other good. The producer will buy protection so long as he values better the income he receives than the expenditure he incurs in.

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