lördag 28 oktober 2017

Free trade deal oxymoron

Free trade means a country's rulers allow goods in tariff free and with minimal other restrictions. It is a unilateral action. It was demonstrated long ago by the classical economists that it is optimal for the importing country.

Other countries can do the best for their own people by following suit. Or they can cause them trouble, expense and inconvenience by imposing protectionist measures, eg the EU, Trump, Peron, etc.

"Free trade deal" is a contradiction in terms.

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