11-05-2025
- Business
- Wall Street Journal
Why Bad Economics Thrives
Regarding 'Notable & Quotable: Thomas Sowell on Tariffs' (April 4): Thanks to the Journal for reprinting the thoughts of a national treasure. Here is another gem from his book 'Basic Economics' (2000): 'Another reason for public support for protectionism is that many economists do not bother to answer either the special interests or those who oppose free trade for ideological reasons. The arguments of both have essentially been refuted centuries ago and are now regarded within the economics profession as beneath contempt.'
Thomas Murphy
