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Does Trade Benefit Everyone?
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| Submitted: Thu Jul 11 2002
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Does Trade Benefit Everyone? We live in an increasingly international world, nations are trading more and more with each other and in the words of Marshall McLuhan, "interdependence recreates the world of a global village." Using this image of a global village, will more trade lead to a world in which everybody is better off or are we to have a village in which there are still "slums". To find out the answer to the question we must look at both the theory behind trade and also the evidence that the world has produced to arrive at a balanced opinion. The theory will hopefully provide us the basis with which to argue and the evidence will hopefully show if this basis is true or false. The theory on which trade is based dates back to Ricardo who explained his principle of comparative advantage (Principles Of Political Economy, Ricardo). Comparative advantage is...
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