In the jungle, consumers compete, tooth and claw, with each other for scarce food. In the market, producers compete, peacefully, with each other, producing abundance for consumers. In the jungle, the rule is: eat or be eaten. In the market, it is: serve so that you may be served.
Labour Learns a Trade
Recently, the United Kingdom signed two “free trade deals” with India and the United States. Adam Smith and David Ricardo would justifiably take issue with the label of free trade because these deals have not established what the term refers to in the classical...
