The Gains from Trade Reconsidered
International trade has a long history, dating back to antiquity. It brought, and brings, gains to those directly involved in it. More important, participation in international trade also brings gains to society at large - though not necessarily to all its individual members. Therefore, the general opinion, of economists and non-economists alike, is: the more trade the better. In policy terms: remove all obstacles to trade, so that it can freely spread and expand its beneficial effects.
KeywordsForeign Trade Latin American Country Trade Liberalisation Incentive Structure Regime Switch
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