David Hume Quotes

Trade never balances. It hasn’t since 1776.

Mercantilism is based upon the idea that a nation's wealth and security depend upon its ability to regulate and control its external trade at the expense of others.

A single economy makes the constant adjustments necessary to facilitate trade impossible.

Back in those days, in the fifties and sixties, countries had balance of payment's deficits or surpluses, those were reflected much more than today in movements of reserves among countries.

Foreign trade clearly has been a reason why inflation has been low.

By definition, by reducing our trade deficit we will be hurting consumers. Consumers are always better off with a trade deficit.

May our exports be so great, and our imports so small, that the balance of trade may be in our favor.

All Nations endeavor to get the [foreign] Exchange as much as they can on their side.

Nations finding the Export of Money or Bullion to pay the ballance due by Trade, a loss of so much Riches, and very hurtful to Trade, might have discharg'd the Import of such Goods as the People could best want; Or laid a Duty on them, such as might have lessen'd their Consumption: They might have given encouragement to Industry, whereby the Product would have been encreas'd and improv'd, or discourag'd extravagant Consumption, whereby the Overplus to Export would have been greater; Any one of these Methods would have brought Trade and Exchange equal

The benefits of trade diffuse across the economy, but the cost of trade are concentrated.

Foreign trade clearly holds down the cost of products we buy.

Since our economy is closely allied with that of foreign countries, not one of us can be indifferent to what consequences these disturbances can have at home and abroad.

We are particularly poor at the open economy issues.

Countries trade with one another for the same reasons that individuals, businesses, and regions do: to exploit their comparative advantages.

International trade is not a zero-sum game.

I intend to be vehement in my enforcement of the [foreign trade] laws. We've got to stop getting rolled.

The closest we can come to free trade is illuminating the barriers to free trade.

Free trade is a two way street.

… what is called free trade, foolishly by some and wickedly by others.

We are the greatest trading country in the world because we have the greatest exportation of the growth and product of our land and of the manufacture and labor of our people; and the greatest importation and consumption of the growth, product, and manufactures of other countries from abroad, of any nation in the world.

Wee must ever observe this rule; to sell more to strangers yearly than wee consume of theirs in value

Without international economics getting done, foreign policy doesn’t get done.

I don't know of a single foreign product that enters this country untaxed except the answer to prayer

The laws of trade must be the great teacher.

It must become a nation of free traders, which would throw open its ports to the world, and prove to European nations that the colonial system of restriction and monopoly was founded on delusion