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Essay / Research Paper Abstract
This 6 page paper supports the idea of free trade, primarily with the comparative advantage theory. Other theories are explored as well as recent action by President George W. Bush. Bibliography lists 5 sources.
Page Count:
6 pages (~225 words per page)
File: RT13_SA245fre.rtf
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Unformatted sample text from the term paper:
economists agree that free trade is almost always better than protection but underlying that idea is the theory of comparative advantage ("A short," 1998). It is an old economic theory
which is generally attributed to David Ricardo, an Englishman who lived in the early part of the nineteenth century (1998). According to the theory, nations would be better off
if they each specialized in the industry where they have a comparative advantage (1998). Specialization increases global output and this is enhanced if they trade with one another (1998).
The point of economic activity, after all, is not to produce but to consume ("A short," 1998). Countries who trade with one another can enjoy more product if they trade
on terms where both will gain (1998). In essence, the theory of comparative advantage suggests that it makes sense for countries to engage in trade because they are different (1998).
There are many examples which may be noted. France makes superb wines and is the only producer of true Champagne. There are other delicacies that come from other parts of
the world that, and while the U.S. may be able to produce some of these things, they cannot do them as well as the country of origin. There are also
items that due to climactic conditions are favored. Fruits, meats, and other things that requisite certain weather and geographic conditions are grown or created in one nation and shipped to
another. It is an idea that works because everyone wins. The consumers get more variety and the process facilitates entrepreneurial activity. Without free trade, globalization could not take place and
it is the global market that is largely responsible for recent good economic times. While of course, the past year or two may have had a negative economic impact, free
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