Explore BrainMass

Explore BrainMass

    Getting Together on the Benefits of Free Trade

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Economists are in almost universal agreement that Free Trade is good for all countries. Why are they in such universal agreement? Other groups in our country, especially labor, are against Free Trade. Why is this the case? Can you propose a way that both groups can get together on this issue? Discuss.

    © BrainMass Inc. brainmass.com October 10, 2019, 3:34 am ad1c9bdddf

    Solution Preview

    Free trade allows both countries to enjoy higher levels of consumption. If each trading partner specializes in products in which it has a comparative advantage, it can export those products and use the income to buy the products that its partner produces. Both countries can reach levels of ...

    Solution Summary

    This solution explains why free trade is good for both countries, and why some groups nevertheless oppose it. A proposal is made on how both sides can get together on the issue.