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The Cost of Free Trade Joel Richard Paul TV. _ C rruic&sui University of California, Hastings Law School The 2015 debate over President Obamas free trade agreements illustrates two fundamental misconceptions about the character of globalization and the associated gains from trade. The first is the idea that the world is growing more
- 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)Apr 23, 2021 · This article distills from these writings the topic of free trade as a “human right” in accordance with ius gentium or the “law of peoples.” The right to free trade is rooted in a more fundamental right to communication and association.
Free trade increases prosperity for Americans—and the citizens of all participating nations— by allowing consumers to buy more, better-quality products at lower costs. It drives economic growth, enhanced eficiency, increased innovation, and the greater fairness that accompanies a rules-based system.
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Apr 29, 2021 · Whether free trade causes economic gains or not is one of the oldest unsettled questions of political economy (see Mill [Citation 1844] Citation 1874). In the public policy arena, international trade is a recurring topic of heated controversy.
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 of how the concept of free trade has moved across a two-hundred-year period since the late ...
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In “True Free Trade Is Still True,” Fred E. Foldvary defends the justice and relevance of Henry George’s “true free trade” policy by systematically analyzing and refuting political and economic argu-ments against free trade.
