3.5.4  Free Trade

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Free trade is defined in this book as countries€™ ability to sell goods and services to each other without restrictions or the imposition of tariffs.  It is a contested issue.  Some people, notably including writers for The Economist magazine,[1] are enthusiastic advocates for free trade €“ but others bewail the changes wrought by globalisation.  Many seem to have accepted the argument that free trade has brought unprecedented prosperity to the world, yet also argue for some industries to be 'protected'.  The following sections cover the arguments for free trade (3.5.4.1), the issues raised by selective protectionism (3.5.4.2), the argument that competition from some countries is 'unfair' (3.5.4.3), the perception of globalisation as a threat to jobs and wages (3.5.4.4), and the issues preventing the freeing of trade (3.5.4.5).

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