“Any transaction freely entered into must benefit both parties. Any transaction that does not would surely be rejected by the party whom it disadvantages.”

Mike Harris and Preston Manning, Building Prosperity in a Canada Strong and Free

In my latest National Post column I say the “Gilets jaunes” in France have legitimate grievances. But unfortunately not legitimate solutions.

“We economists always worry about getting our counterfactual scenarios right; without a yardstick, we are paralyzed. There is an apocryphal story about an economist who, when asked ‘How is your wife?,’ replied: ‘Compared to what?’”

Jagdish Bhagwati, Protectionism