"The free trade argument states that, if each nation produces what it does best and permits trade, over the long run all will enjoy lower prices and higher levels of output, income, and consumption that could be achieved in isolation." The North American Free Trade Agreement (NAFTA), implemented in January of 1994, created a situation in North America in which there are no taxes on most products imported and exported between the three countries. Ideally, the …
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showed last 75 words of 1382 total
…and the rest of the western hemisphere, will suffer. Bibliography Anderson, Sarah. et al. "NAFTA: Trinational Fiasco." The Nation July 15, 1996: 26-29 Carbaugh, Richard G. International Economics. U.S.A.: Wadsworth Publishing Company, 1989. Dentzer, Susan. "The Pain and Gain of Trade." U.S. News Sept. 1992: 62+. Harbrecht, Douglas. et al. "What Has NAFTA Wrought? Plenty Of Trade." Business Week Nov. 21, 1994: 48-49 Lewis, Charles, and Margaret Ebrahim. "Can Mexico and Big Business USA Buy NAFTA?" The Nation June 14, 1993.