Final Synthesis Paper On Free Trade
Final Synthesis Paper
Economic Philosophers have work extremely hard to make the world a better place by advocating for free trade policies, and also against any forms of trade restrictions. Free trade by simple definition means free movement of goods and services from one place or nation to another through buying and selling with no formal restrictions. Free movements of goods and services from one place to another should not be restricted if only resources are evenly distributed. In economics, it is widely acclaimed that human “wants” are unlimited while the resource to satisfy those “wants” are limited. Similarly, resources to satisfy those “wants” are not equitably distributed. These are some of the reasons why prominent economics scholars like Smith and others support free trade. In this paper, I will share with you some views of scholars that supports free trade and their reasons, also the views of its critics.
First, Adam Smith talks about free trade in his Wealth of Nations. He argues that free trade is for increase in productivity and economic growth. He also said that free trade is buying and selling of goods and service in a win- win situation. This can be further divided in two folds; buying of needed goods also selling of goods that you produced in abundance. Sometimes this “buying and selling” can be complicated and hard to understand. However, Smith clarifies this whole notion of buying and selling even further.…