09 August 2005

What Happened When Two Countries Liberalized Trade? Pain, Then Gain

"ECONOMISTS argue for free trade. They have two centuries of theory and experience to back them up. And they have recent empirical studies of how the liberalization of trade has increased productivity in less-developed countries like Chile and India. Lowering trade barriers, they maintain, not only cuts costs for consumers but aids economic growth and makes the general public better off."

To read this excellent article by Virginia Postrel please click here.

No comments: