A More Inconvenient Truth

Free trade is economics, fair trade is marketing

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Via Greg Mankiw, Steven Landsburg in the NY Times talks about the myth of protectionism. Interesting look at the moral side of the debate. Friedman often cited free trade as one concept that almost all economists–from Adam Smith on up–agree on. “Fair trade” makes for good marketing but doesn’t help those it intends to. It’s important to judge based on outcomes, not intentions.

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Written by WithConfidence

January 28, 2008 at 9:42 pm

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