Nov 29, 2018

The Economic Case for Free Trade

Post by Freedom Partners

Trade is the reason you don’t need to grow your own food, build your own home and make your clothes. In other words, trade is the reason you don’t live like a caveman.

Without free trade, “life would probably be pretty lousy,” says Dan Mitchell, Co-Founder and Chairman of the Center for Freedom and Prosperity, in The Economic Case for Free Trade.

 

 

“Thanks to trade, you don’t have to do those things. You can specialize in what you do best or what you like, whether it be manufacturing, waiting tables — anything else!” What’s more, you can use the money you make from those jobs to purchase goods and services from others.

When people have greater freedom to make these exchanges, their lives improve. That’s what trade is all about.

The research shows that free trade makes people better off — in fact, studies show that free trade raises incomes and delivers thousands of dollars in benefits to American families. Trade restrictions tend to hamper those outcomes.

Free trade allows us to specialize while still delivering the goods to American families and businesses. Dropping barriers to free exchange would deliver us down that path in the direction of prosperity.