Episode 314: What Happened to Trade?
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Why Henry Ford Can't Make His Cars?
When automobiles came along, all those buggy makers were out of business. So were all the dudes who took care of horses. Boy, there was a lot of people ended up out of work. Is that a good reason to tell Henry Ford that he can't make his cars? That seems unreasonable to me. But it happens every single time. There's an invention. And James is talking about inventions, but the same phenomenon occurs with trade.
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