“Even Ricardo's most famous accomplishment, the law of comparative advantage in foreign trade, is incomplete, though not wrong.”

— Kenneth Arrow

Kenneth Arrow, "Ricardo's Work as Viewed by Later Economists" (1988)
1970s-1980s

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Kenneth Arrow 37

American economist 1921–2017

Robert Gilpin (1930–2018) Political scientist

Source: The Political Economy of International Relations (1987), Chapter Five, The Politics Of International Trade, p. 228

“Litmus test: If you can't describe Ricardo's Law of Comparative Advantage and explain why people find it counterintuitive, you don't know enough about economics to direct any criticism or praise at "capitalism" because you don't know what other people are referring to when they use that word.”

Eliezer Yudkowsky (1979) American blogger, writer, and artificial intelligence researcher

a comment on Facebook (June 2012) http://www.facebook.com/julia.galef/posts/10100387951009862

“The phrase laissez-faire is not to be found in the works of Adam Smith, of Ricardo, or of Malthus. Even the idea is not present in a dogmatic form in any of these authors. Adam Smith, of course, was a Free Trader and an opponent of many eighteenth-century restrictions on trade. But his attitude towards the Navigation Acts and the usury laws shows that he was not dogmatic. Even his famous passage about 'the invisible hand' reflects the philosophy which we associate with Paley rather than the economic dogma of laissez-faire.”

John Maynard Keynes book Essays in Persuasion

Source: Essays in Persuasion (1931), The End of Laissez-faire (1926), Ch. 2

“If there were an Economist's Creed, it would surely contain the affirmations 'I understand the Principle of Comparative Advantage' and 'I advocate Free Trade”

Paul Krugman Is Free Trade Passé?

"Is Free Trade Passé?", The Journal of Economic Perspectives, Vol. 1, No. 2 (Autumn, 1987)

“The U. S. government has created a trade lynch law that can convict foreign companies almost regardless of how they operate.”

James Bovard (1956) American journalist

From The Fair Trade Fraud (St. Martin's Press, 1991) http://www.jimbovard.com/Epigrams%20page%20Fair%20Trade%20Fraud.htm

“What is morally wrong can never be advantageous, even when it enables you to make some gain that you believe to be to your advantage. The mere act of believing that some wrongful course of action constitutes an advantage is pernicious.”

Marcus Tullius Cicero (-106–-43 BC) Roman philosopher and statesman

“We take foreigners to be incomplete Americans — convinced that we must help and hasten their evolution.”

Saul Bellow (1915–2005) Canadian-born American writer

" A Second Half Life" (1991), p. 324
It All Adds Up (1994)

“Venus de Milo.
To a child she is ugly.
When a mind adjusts to thinking of her as a completeness, even though, by physiologic standards, incomplete, she is beautiful.”

Charles Fort (1874–1932) American writer

Source: The Book of The Damned (1919), Ch. 1, part 4 at resologist.net

“Everything's going to be okay, even though it's all terribly wrong.”

Jack Terricloth (1970)

http://www.youtube.com/watch?v=q-kyp0PQPZY
Interviews

“I love to indulge it, even though it may be all wrong.”

Frédéric Chopin (1810–1849) Polish composer

As quoted when he talked about his piano concerto, op.11.
Context: Here you doubtless observe my tendency to do wrong against my will. As something has involuntarily crept into my head through my eyes, I love to indulge it, even though it may be all wrong.

“Even Ricardo's most famous accomplishment, the law of comparative advantage in foreign trade, is incomplete, though not wrong.”

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