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Discussion 2 Assignment: Free Trade, Nations Government
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we learned that many economists feel that unrestricted free trade raises the economic welfare of a nation. However, given our various values and ethical systems, do you agree or agree with this position?
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Free Trade
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Free trade means that a nation’s government doesn’t interfere in any way, into what its citizens buy or sell to and from another country. The people are therefore, totally independent and free from intervention by various policies set up by governments. This concept has been controversial for quite a long time since it strides both sides of the divide. It might appear and sound like a very good and attractive proposition to have an environment where there is freedom in exchange of products between producers and consumers. On the contrary however, provided the values and practices that define human culture, this might have adverse impacts.
The problem with free trade is that there will always be that one nation that will always benefit more than the other. The main essence of the current capitalistic environment is for companies to maximize profits (Borjas, 2014). As a result, there wi...
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