Free Trade And Globalization Essay

analytical Essay
1577 words
1577 words

Free Trade, Globalization and International Conflict
Burak Sezer Coskun
In today’s increasingly smaller world, free trade and globalization have become inevitable parts of our lives. The growing importance of free trade and globalization have undoubtedly impacted the existence and extent of conflicts between nations. Free trade is defined by Mankiw (2015) as “the unrestricted purchase and sale of goods and services between countries without the imposition of constraints such as tariffs, duties and quotas.” The economic argument for free trade is that nations that engage in it will be able to produce and consume more due to the principles of absolute and comparative advantage. More recently, arguments in favor of free trade have emerged not …show more content…

In this essay, the author

  • Explains that free trade and globalization have undoubtedly impacted the existence and extent of conflicts between nations.
  • Explains the theory of interdependence, which states that nations that trade with each other rely on one another and prevent conflict.
  • Explains that free trade and globalization bring nations and cultures together, which decreases conflict and makes the world a peaceful and harmonious place.
  • Explains that free trade brings with it economic development and diplomatic maturity, both of which havce a highly negative correlation with conflict.
  • Argues that free trade and globalization help reduce international conflicts and make the world a more peaceful place.

In today’s global economy, free trade and globalization are deeply intertwined. Globalization makes free trade possible and vice versa. It is beyond doubt that as time goes by the speed at which international integration is increasing and reduction of barriers to free trade are decreasing have gone up. While there is some resistance against the forces of globalization and free trade (McMaken, 2016), most nations have come to accept it as a reality of the modern era. This large scale acceptance is generally regarded as progress towards a world with less conflict. Arguments in favor of free trade and globalization stem from a variety of interdisciplinary sources. This paper goes into the details of some arguments for free trade and globalization, and explains why Globalization and free trade reduce the prevalence of conflicts in the international arena, and promote peace, cooperation and disarmament …show more content…

Pillars of Peace, an annual report published by the Institute for Economics and Peace, consistently indicates that nations with high levels of development, democracy and economic prosperity are unlikely to engage in interstate conflicts. This provides the framework for yet another crucial argument in favor of free trade and globalization. In his article, The Capitalist Peace, Eric Gartzke (2007) does a rigorous statistical analysis into how free trade effects a variety of sociological metrics such as development, democracy, prosperity and peace. Gartzke found a high correlation between each of these factors. Most notably, he found a mutually causal relationship between free trade and each sociological metric. That is, free trade causes development, democracy and peace and vice versa. Acemoğlu and Robinson (2011) give insight into the mechanisms of this mutually causal relationship. They claim that elements of the global economy and by extension, affluence, will make their way into any country that recognizes property rights and has some form of democracy. Thus, one can say that the policy of governments have an effect on their likeliness to engage in international conflicts. This point is illustrated by Thomas Freedman(1999 ) who came up with the “Golden Arches Theory of Peace.” Freedman discovered that no two countries in which

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