Advantages Of Free Trade

Why Free Trade is Good for America and International Economy Free Trade is the exchange of goods between countries, being that there would be no tariffs, quotas, or other restrictions that would interfere with the trading process. I believe that free trade is good because it is a key essential component to economic growth; it creates employment opportunities, it is against monopolies, and consumers have more variety with the option of lower prices. Though, some politicians have argued against free trade on reasons that it takes away jobs from Americans, it can cause harm to the environment, and it affects local manufacturers. However, it does have positive outcomes on the international level for manufacturers and other business ventures, including

The approach is based on the principle that the factors of production are not interchangeable. For example, capital in the steel industry largely takes form of steel factories and machinery; it cannot simply be changed into capital in the food-processing industry. The theory that seems to accurately portray this is the Viner-Ricardo theory because the interests of individuals flow from the sectors of the economy in which they are employed. Therefore, workers or farmers whose job skills or land can be inherently “specific to” a particular industry or crop. This gives them a strong incentive to safeguard their current use by obtaining government protection against foreign

Which can benefit not only the United States economy, but also for other countries economic growth because of Ricardo-Viner theory that states that some factor of production are tied to their industry that is they are industry-specific (306) which means that relevant actors are involved within the factors whether it would be in labor, land, or capital they all make up into the principal role and consideration that they are the key actors when it comes to free trade because without them no products can exported nor imported around the world. Therefore, their skills are stick to one trait which makes it efficient for workers because that means they can manufacture goods more efficiently and