The Fundamental Fallacies of Free Trade: Four Addresses on the Logical Groundwork of the Free Trade Theory - Couverture souple
Synopsis
Rethinking trade: why national interest matters more than raw exchange. This concise critique challenges the idea that trade volume alone shows a nation’s gain. It argues that true value lies in how production, employment, and resources grow as a result of trade choices, not in the number of goods moved across borders. This edition examines how private profit fits into a broader public good, and why unrestricted imports can help or hurt a country depending on how they influence industry and employment. It uses historical examples to show when protection or selective openness might better serve national development and living standards.
- Defines the difference between individual profit and national gain in foreign trade
- Explains why the same trade volume can signify very different outcomes for a nation
- Offers a framework for evaluating trade policies by their impact on production and employment
- Draws on historical cases to illustrate how policy choices shape economic strength
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