Philosophy Dictionary of ArgumentsHome
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| Free trade: Free trade is a commercial policy allowing goods and services to flow between countries without significant government interference. It promotes open markets by reducing tariffs, quotas, and other barriers, facilitating international commerce. Free trade aims to boost economic growth, foster competition, and provide consumers with a wider variety of goods at potentially lower prices by encouraging global exchange. See also Trade, International relations, Taxation, Fiscal policy._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Adam Smith on Free Trade - Dictionary of Arguments
Boudreaux II 97 Free trade/Adam Smith/Boudreaux: When Smith first published his case for free trade in his monumental 1776 book, An Inquiry into the Nature and Causes of the Wealth of Nations(1), protectionist policies were well entrenched in Great Britain. These policies were so well entrenched that Smith thought it ludicrous to suppose that they would ever be discarded in favour of a policy of unilateral free trade. Yet on this matter Smith was wrong. Britain adopted a policy of free trade 70 years after Smith’s ideas were first published. >Ideas/Economic theories. Boudreaux: Britain’s adoption of free trade (which began in earnest with Parliament’s repeal of the “corn laws” tariffs on grains - in 1846) owes much to Smith’s own scholarly case for free trade. The logic and eloquence of Smith’s argument inspired other scholars to do further research into trade. This research largely confirmed and strengthened Smith’s conclusions. Just as importantly, it also inspired orators, pamphleteers, and other public intellectuals of the era to take up the cause of free trade. These public intellectuals explained to the public the benefits of free trade and the dangers of protectionism. By the mid-nineteenth century, public opinion in Britain had swung to free trade, along with other related free-market ideas. >Free market. 1. Smith, Adam. (1776) The Wealth of Nations. London: W. Strahan and T. Cadell._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
EconSmith I Adam Smith The Theory of Moral Sentiments London 2010 EconSmithV I Vernon L. Smith Rationality in Economics: Constructivist and Ecological Forms Cambridge 2009 Boudreaux I Donald J. Boudreaux Randall G. Holcombe The Essential James Buchanan Vancouver: The Fraser Institute 2021 Boudreaux II Donald J. Boudreaux The Essential Hayek Vancouver: Fraser Institute 2014 |
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> Counter arguments against Smith
> Counter arguments in relation to Free Trade
