Saturday, February 19, 2011

How Convincing is the Case for Free Trade?

link here to article

Most economists are strong supporters of free trade. The case for free trade is usually made by claiming that society as whole benefits from free trade. This does not mean, however, that the distribution of benefits from free trade are fair. Its apparent that the benefits from free trade have tended to go disproportionately to those at the top of the income distribution. There is a risk that economics will lose relevance by advocating free trade without dealing with the redistribution of the benefits from trade.

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