This defense can only be established when a party will liquidate for the transaction.
The loss incurred in case of permanent migration is either due to transaction costs borne to liquidate the asset (e.g. a house, a small business,...), or simply because some specific types of assets, like social capital, are immobile, illiquid and therefore sunk.
"Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate".
"Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate," he coldly advised.
(Sound familiar?) "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate," Andrew Mellon, Herbert Hoover's Treasury Secretary, advised.
According to Herbert Hoover, Andrew Mellon, his Treasury secretary, urged him to "Liquidate labor, liquidate stocks, liquidate the farmers..
This is just a modern version of "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate...
The attitude recalls Herbert Hoover's account of Andrew Mellon's advice on how to deal with the Depression: "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate".
"To liquidate the gains of labor --.
Today's U.S. political system isn't going to follow Andrew Mellon's infamous advice to Herbert Hoover: "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate".
From this moment, it remained only to liquidate the war.
