Argumentative Essay On Free Trade

Free Trade

By definition, free trade is the “economic policy of not discriminating against imports from and exports to foreign jurisdictions. As such, buyers and sellers from separate economies may voluntarily trade without the domestic government applying tariffs, quotas, subsidies or prohibitions on their goods and services”. Thus, free trade is the opposite of trade protectionism or isolationism.

In my opinion, theoretically speaking, free trade is meant to wipe out partial boundaries to exchange and raise the economy not just in developed countries but also developing countries alike. In a free trade system, both economies can technically experience accelerated growth rates. Free trade facilitates the concentration of goods and services by domestic workers, giving them a clear advantage.

By broadening the economy’s diversity of products and proficiency, free trade also encourages specialization and the division of employment. Economists who advocate for free trade believe that it is the reason why certain civilizations even prospered economically in the first place. Adam Smith, for example, who is mentioned as being one of the fathers of free trade, pointed to expanded trading as being the

free trade agreements draw many protests due to feared job loss to foreign countries with cheaper labor. Yet proponents of free trade say new agreements improve the economy on both sides. There is no way to know whether free trade does affect U.S. employment levels, given all the economic forces that affect job rates. Proponents of free trade respond that even if the economies of developing nations improve under free trade, those economies are still too small to have any real effect on the U.S. economy and job market. The argument for free trade being seen as a form of imperialism appears from the nineteenth-century English political movement that advocated a primary focus on commercial domination, rather than formal colonization and territorial