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NAFTA and Free Trade

I am so overwhelmed right now with all of my classes and this class has done me in... Please help me with these questions.

Are you for or against free trade? Are you for or against NAFTA? What is the economic basis for trade? Explain the underlying facts that support free trade and give an example of a good that you purchased recently that is based on resource differences.

Solution Preview

I am for free trade to a certain point. Free trade creates conditions where economies can excel due to the unrestricted amount of trade that can take place. Free trade is trade without tariffs, fees, or other general restrictions that oftentimes cut down on the amount of trade taking place. In a free trade society, government basically stays out of interfering with trade. This is all good - to a certain point. One of the biggest problems with free trade is that smaller countries who aren't as developed often get taken advantage of, which hurts their economy and society in the long run. If a country that is largely undeveloped has an abundance of a certain natural resource is able to export that product cheaper than anyone else, while it helps their economy, it's going to start depleting their only viable source of growth -- that natural resource. I am for free trade until the point ...

Solution Summary

This solution discusses free trade. A position is taken either for or against free trade, for or against NAFTA, and also explains the underlying facts supporting free trade. Examples are given of a good purchased that is based on resource differences.

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