International Trade Theory and Policy
by Steven M. Suranovic
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CHAPTER 125
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LEVEL 1: Basic Definitional
LEVEL 2: Basic Intermediate
LEVEL 3: Advanced Intermediate
LEVEL 1
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This article provides a realistic account of the types of outcomes predicted by economic theory as a country moves to free trade. The story suggests a question that must be answered if we are ever to reach broad agreement on the choice of appropriate trade policies. It is a question that will require us to understand fairness in order to answer. The European Fair Trade Association |
This article discusses the opportunities and threats posed by both free trade and protectionism. It argues that the choice of trade policy involves a tradeoff between various determinants of economic success. |