23
Aug
08

Correlation between free trade and peace

Don Boudreaux’s article, Want world peace? Support free trade, highlights the unique correlation between free trade and peace.

Protectionists (of whatever party) believe that consumers who buy goods and services from foreigners cause domestic employment – and wages – to fall. Economists since before Adam Smith have shown that this belief is mistaken, largely because foreigners sell things to us only because they either want to buy things from us or invest in our economy.

One easily becomes aware of the contridictory stances politicians have taken in regards to trade protectionism and the long-run prospects of peace.

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