September 17, 2014 at 3:37 am
#18438
Participant
Thank you very much for the links.
Am I right in saying that the critics of free trade are completely avoiding the raising of living standards that is the result of cheaper goods coming into a country?
The focus seems to only be on whether or not a country can compete on producing the same things as other countries. The only counterargument I have heard from critics is that if you only specialize in agriculture then you won’t make the move up to a more industrial economy and that an agricultural economy is more unstable since you are more likely to find developing countries competing on agricultural products.