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Quote by Malcolm Cook

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Malcolm Cook

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“Protectionism, such as what U.S. president Donald Trump was attempting, amounts in effect under these circumstances (that is, in the absence of any significant expansion of state expenditure financed either by a fiscal deficit or by taxes on capitalists) to an export of unemployment to other countries. It can work only if the other countries do not retaliate. If they do, then it gives rise to a competitive “beggar-thy-neighbor” policy that only worsens the crisis by creating further uncertainties and reducing investments further.”

TrumpImperialismProtectionism
Book:Capital and Imperialism: Theory, History, and the Present
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“But the cruelest of our revenue laws, I will venture to affirm, are mild and gentle, in comparison to some of those which the clamour of our merchants and manufacturers has extorted from the legislature, for the support of their own absurd and oppressive monopolies. Like the laws of Draco, these laws may be said to be all written in blood.”

PoliticsCapitalismProtectionismRent Seeking
Book:An inquiry into the nature and causes of the wealth of nations
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“But the principles of laissez-faire have had other allies besides economic textbooks. It must be admitted that they have been confirmed in the minds of sound thinkers and the reasonable public by the poor quality of the opponent proposals - protectionism on one hand, and Marxian socialism on the other. Yet these doctrines are both characterised, not only or chiefly by their infringing the general presumption in favour of laissez-faire, but by mere logical fallacy. Both are examples of poor thinking, of inability to analyse a process and follow it out to its conclusion. The arguments against them, though reinforced by the principle of laissez-faire, do not strictly require it. Of the two, protectionism is at least plausible, and the forces making for its popularity are nothing to wonder at. But Marxian socialism must always remain a portent to the historians of opinion - how a doctrine so illogical and so dull can have exercised so powerful and enduring an influence over the minds of men and, through them, the events of history. At any rate, the obvious scientific deficiencies of these two schools greatly contributed to the prestige and authority of nineteenth-century laissez-faire.”

SocialismMarxismLaissez FaireProtectionismMarxian SocialismKeynesism
Book:End of Laissez Faire
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“Without a family, Ma Lin devoted himself to his work. He continued to shun ideology but occasionally caught himself wondering about the WHY of things he did in his work. Often he felt, and justifiably so, that something he had done had benefited the state or preserved someone's life or safety. Other times, like now, in this room with an old woman who knew nothing important and had curled up to die, he felt old and tired and worn out.”

CountryDutyPrideNationalismProtectionism
Book:China Run
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“In a petty theft you steal money, gold etc.; in an electoral theft you steal the future of a country! The second crime can be committed only by the meanest people! Such a heavy crime results in a heavy price!”

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Author:Mehmet Murat Ildan
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