Italian translation: inoppugnabile, a prova di bomba
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10:02 Aug 26, 2010
English to Italian translations [PRO] Bus/Financial - Economics / globalizzazione
English term or phrase:air-tight
These considerations about how we evaluate social changes with significant distributional effects give us additional insight into why the technical progress analogy fails to provide an air-tight argument in favor of free trade. We often assume in the case of new technology that it is generated by innovators and firms that play under a common set of rules. If firm X beats firm Y to a new product or process, it is because X has spent more on R&D, has employed a better business strategy, or has just been lucky—not because Y has been burdened by a different and more costly set of rules.