Etiket Arşivi: benefits of free trade

Benefits of free trade

Critique to the liberal argument on the benefits of free trade Globalists critize David Ricardo’s Comparative Advantage theory: ‘each country is endowed with local resources, material, cultural and geographical conditions. Thus, international trade promotes specialization and mutual benefits’.Globalists argue that British and the later-comers like the US, Russia, Germany and Japan all favored idustrialization behind protective tariff barriers. These countries ... Devamını Oku »