New Delhi, Feb. 7 -- Free trade agreements have become the talk of the town, thanks to India announcing two of the biggest such deals with the European Union and the United States.

While the finer details of these agreements are yet to be scrutinised, LiveMint's quote for the day sheds light on the importance of such deals.

In his seminal book, "Capital in the Twenty-First Century", French economist Thomas Piketty explored wealth and income inequality, arguing that the return on capital outpaces economic growth, leading to increased inequality.

"Protectionism does not produce wealth, and free trade and economic openness are ultimately in everyone's interest," Piketty said.

With this quote, Thomas Piketty means that restricting trade t...