How to Fix Free Trade
Teona Gherasim
Debates over world trade often conflate two distinct issues. The first is how to expand the efficiencies that occur when international trade is broadly balanced and countries are able to benefit from trade by specializing in particular industries. As the British economist David Ricardo famously observed, when Portugal specialized in producing wine and the United Kingdom specialized in producing textiles, trade allowed them collectively to produce more than they otherwise would. The second issue
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