Free Trade Vs. Protectionism

1163 Words5 Pages
The History of trade and its relationship to politics, the world’s poor, and the worlds wealthy is deep and extensive. The ideas of free trade vs protectionism have been a part of American history since its origination, but have become most prevalent in its history since the 1800s ( ). The political arguments surrounding it are fierce and passionate, and tend to sway from one side to the other with extreme regularity. There are many schools of thought and often time specific groups of people tend to constantly support the same theory, however the lines tend to get blurry in politics and the publics opinion. Both arguments will be outlined and are not intended to present a persuasive argument for either theory, but rather to offer an education on the principles and ideas behind each idea. The basic ideas behind free trade are eliminating the tariffs and restrictions on imports and exports (). It supports countries working on specializing or focusing on one or a few key areas of production, and supports open and competitive trade with many nations. Its supports believe that it increases the flow of goods in and out of country and presents opportunities for every country to obtain an income through trade, and the interdependence that the market system supports ( ). Relying on the principle that increasing imports helps increase exports. Its most common supporters are economist, democrats, and some republicans. However support of the GOP side of politics seems to continue to ween. The opposite Market system of free trade is protectionism () . IT supports tariffs and restrictions on imports with the goal of protecting industries and jobs that could suffer as a result of free trade. The idea behind it is, that if the amount of good ... ... middle of paper ... ...oduction. ( ) Almost 70% of one billion people suffer from starvation are laborers in food production. The benefits of free trade have been associated with decreasing poverty also. As mentioned above, some people believe that free trade helps increase the availability for trade, and income as a result of trade. The benefits are mostly economical, and do not seek effects in the areas of working conditions or even wage distribution. ( ) It has proven to be economically beneficial in American history and has helped increase economic growth during some of its most financially dismal times. However, the American population seems to lean toward job and industry projection from time to time. Free trade has undeniable benefits but in relation to poverty it does not seem to be a positive solution against work like world hunger, and unbalanced distribution of food products.
Open Document