Clive Crook, October 2007, Atlantic Monthly
Samuelson once regarded the principle of comparative advantage—the modern theory of the gains from trade—as nontrivial. I would go a little further and say it was the greatest gift that economic wisdom ever bestowed on humankind.
Robert Skidelsky, New York Review of Books, April 17th 2008
Stiglitz underestimates the extent to which poor countries are responsible for sustaining their own poverty. He shirks the key question: Why, over time, did some countries get rich and others stay poor? His implicit, quasi-Marxist answer is that it was because the rich exploited the poor. An alternative, and to my mind superior, approach, pioneered by Douglass North, is that countries now rich developed institutions superior to those of countries that stayed poor, and that the gap in economic development between different parts of the world had already emerged by the eighteenth century
George W. Bush
Federal Hall, New York, January 2007
http://www.whitehouse.gov/news/releases/2007/01/20070131-1.html
Every time we break down barriers to trade and investment, we open up new markets for our businesses and our farmers. As we improve free trade, consumers get lower prices. There are better American jobs. You see increased productivity. Jobs supported by exports of goods pay wages that are 13 to 18 percent higher than the average. So one of our top priorities has been to remove obstacles to trade everywhere we can.
by James Ingram
International Economic Problems
There is a mysterious entrepreneur, Mr. X., who announces to the world that he has found several amazing discoveries that allow him to produce cheap televisions, automobiles, cameras, and other goods.
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