Quotation of the Day…

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… is from page 1 of Alecia Waite Cassidy’s, Edward Tower’s, and Xiaolu Wang’s excellent September 2016 paper, “Manufacturing Fetishism: The Neo-Mercantilist Preoccupation with Protecting Manufacturing”:

We find the manufacturing share is not significantly correlated with a higher standard of living. Nor is it related significantly and consistently to economic growth.

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