Trade Theories and Realities

This article describes economic theories of free trade, protectionism, and economic fairness. As well, how will free trade effect workers, consumers, and companies. Public debate between free trade and protectionism focuses on the positive aspects of their position while ignoring the negative aspects. For example, free trade tends to emphasise the opportunities that free trade will be beneficial for exporters and consumers. Opponents of free trade emphasise the threats that open competition with low-wage countries will pose to our import-competing industries. Moreover, they argue that free trade will cause big job losses to already low paid workers in our economy. This article says that free trade is causing a redistribution of income.…