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— Frank Knight"Goods move in response to price differences from points of low to points of higher price, the movement tending to obliterate the price difference and come to rest."
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I, place economy among the first & most important republican virtues, & public debt as the greatest of the dangers to be feared
— Thomas Jefferson
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Governments do not necessarily act in the national interest, especially when making detailed microeconomic interventions. Instead, they are influenced by interest group pressures. The kinds of interventions that new trade theory suggests can raise national income will typically raise the welfare of small, fortunate groups by large amounts, while imposing costs on larger, more diffuse groups.
— Paul Krugman
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