In essence, if two parties want to swap something with each other, no government should stop them. They want to swap because it will make them both better off, and to hinder them is to do damage. Both parties will suffer, as well as those who might have benefited had they been allowed to proceed unhindered. This is not as complex as some suggest, for free trade is as simple as “I’ll cook, and you wash the dishes.” We swap the proceeds of our labours, and both profit by doing so. There is no point in two of us making separate pans of spaghetti in the same kitchen. That is what trade barriers force us to do and we are both impoverished as a result, losing both time and money that could have been better spent.
Subscribe to receive monthly updates by email about conferences, publications, and news from the field.
Have a question? We’re here to help. Visit the help center to get started.Support Center
University of Illinois Research Park
2001 South First Street, Suite 202
Champaign, IL 61820 USA