Thanks to economists, all of us, from the days of Adam…
“Thanks to economists, all of us, from the days of Adam Smith and before right down to the present, tariffs are perhaps one tenth of one percent lower than they otherwise would have been. … “And because of our efforts, we have earned our salaries ten-thousand fold.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Tariffs have been reduced significantly due to economists’ advocacy, boosting wages dramatically.
In simple terms: Economists helped lower tariffs, raising wages.
Key Takeaway
Support sound economic policy.
Themes
economics
policy
wages
Mood
analytical
critical
Type
informative
explanatory
When to use this quote
- government budgeting
- business strategy
- public debate
Key Concepts
free trade
tariff reduction
income growth
Questions to Reflect On
- How do tariffs affect different industries?
- What are the long‑term impacts of lower tariffs?
A Different Perspective
Policy effects can vary by sector.