“What is Free Trade?”
- Free trade is the belief that unrestricted international trade of services and goods will lead to more efficient economies as goods will be produced more efficiently, and overall have a positive effect on countries all over the world
- People on the contrary of free trade argue that unrestricted international exchanges lead to workers in domestic industries losing their jobs, and this is a key reason as to why governments have tariffs and other protectionist policies in place
How do I remember it?
The concept of free trade is in the name itself so I remember it by thinking of the word free. It is just being able to trade freely.
