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Foreigners Are Our Friends | Econ Chronicles | Learn Liberty

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Some people say technology is the driver of innovation, but society often takes great steps in prosperity by trading. Like technological shifts over history, trade is a powerful way of creating wealth for all parties. In one example, Professor of Economics Bryan Caplan imagines a machine that turned agricultural products directly into cars: it would disrupt the way we do business, but the US would be wealthier for it.If, however, that machine was nothing but a freighter that exchanges corn for cars with another nation, many people think this is unfair. Whether in dislike for foreign trade or worry about immigration, Prof. Caplan calls this "anti-foreign bias," and points out that most economists don't share these concerns. Professional economists think trade and immigration benefit all parties involved - just like innovative technology. As we said before: trade is made of win!► Watch more Econ Chronicles:Anti-Market Bias: http://bit.ly/1kmhlQ8Make Work Bias: http://bit.ly/1kmhB1qPessimistic Bias: http://bit.ly/1tEvA2l► Learn more about the benefits of immigration:http://bit.ly/TvhRAo► To see transcripts, video downloads, and more:http://www.learnliberty.org/videos/foreigners-are-our-friends-econ-chronicles/► Learn More:Professor Caplan dispels more irrationality here:http://youtu.be/O9fIKElVvOUand here:http://youtu.be/qIsWSCsf_1g► http://LearnLiberty.org► http://twitter.com/LearnLiberty► http://google.com/+LearnLiberty► http://facebook.com/LearnLiberty► http://youtube.com/user/LearnLiberty
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