What are the arguments for & against free trade? How does the internet affect foreign trade?© BrainMass Inc. brainmass.com March 4, 2021, 7:48 pm ad1c9bdddf
There are many arguments for free trade. First, the Ricardian and H.O. models show that the world's economy as a whole will benefit. Second, there are often gains from trade for both partners. For instance, those who export a good are getting a higher profit from that good than they could domestically; those who import a good are paying less for it than they could domestically. It is very possible, and common, that free trade creates what is known as Pareto ...
The Internet as a very powerful tool for international trade is featured.