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Apr 29, 2021 · There are three aspects of the empirical literature that make it highly problematic for making reliable policy inferences: (a) the criteria used to define the notion of ‘free trade’, (b) the background assumptions embedded in the econometric techniques used for estimating causal effects, and (c) the widespread desire among academic economists to...
- Luis Mireles-Flores
- 2021
This chapter explains the economic case for free trade through the lens of trade theory and argues that even though free trade may not be “optimal,” it is nonetheless the most pragmatic policy option a country can follow.
Feb 3, 2020 · This article begins with a definition of free international trade and a brief history of the evolution of free trade as an ideology and economic policy.
- Free Trade Definition
- Free Trade Theories
- Sources and Further Reference
Free trade is a largely theoretical policy under which governments impose absolutely no tariffs, taxes, or duties on imports, or quotas on exports. In this sense, free trade is the opposite of protectionism, a defensive trade policy intended to eliminate the possibility of foreign competition. In reality, however, governments with generally free-tr...
Since the days of the Ancient Greeks, economists have studied and debated the theories and effects of international trade policy. Do trade restrictions help or hurt the countries that impose them? And which trade policy, from strict protectionism to totally free trade is best for a given country? Through the years of debates over the benefits versu...
Baldwin, Robert E. "The Political Economy of U.S. Import Policy," Cambridge: MIT Press, 1985Hugbauer, Gary C., and Kimberly A. Elliott. "Measuring the Costs of Protection in the United States." Institute for International Economics, 1994Irwin, Douglas A. "Free Trade Under Fire." Princeton University Press, 2005Mankiw, N. Gregory. "Economists Actually Agree on This: The Wisdom of Free Trade." New York Times (April 24, 2015)Jan 11, 2013 · In his article, Kindleberger outlines the disparate domestic interests in each state, both for and against the move to free trade in the 19 th century. He points to the varying nature of these interests to discount a liberalist, or domestic level argument for the creation of this regime.
An accessible, nontechnical look at one of the most important concepts in the field of economics, Against the Tide will allow the reader to put the ever new guises of protectionist thinking into the context of the past and discover why the idea of free trade has so successfully prevailed over time.
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This chapter re-examines the history of free trade and its relationship to international law. It locates contemporary trade agreements within a larger story about the relation between the state, the market, and the social; explores why it is useful to place current trade agreements within a longer historical trajectory; offers a brief narrative ...
