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| Author: | Krugman, P.R. |
| Title: | The narrow and broad arguments for free trade. |
| Journal: | American Economic Review
1993 : MAY, VOL. 83:2, p. 362-366 |
| Index terms: | INTERNATIONAL TRADE FREE TRADE POLITICAL ECONOMY |
| Language: | eng |
| Abstract: | If markets were perfect, free trade would be Pareto optimal. However, markets usually have domestic distortion , best fixed by a surgical policy aimed directly at the source of the market failure. The broad argument for free trade is essentially political. The author has examples, which suggests how one can be both a new trade theorist and a free-trader. According to him free trade should be supported as the best policy. |
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