Protectionism vs. Free Trade Part I - The World's Economic Debate Today people throughout the world are aware that they depend for their daily bread on something called "the economy," and they are aware that they are vulnerable because "the economy" is vulnerable. People are aware that their local economies are somehow inserted in international trading patterns, and that what happens to them personally in their daily lives is affected by distant commerce. However, the …
showed first 75 words of 1733 total

showed last 75 words of 1733 total
…one industry to another in order to support their own domestic firms but there should not be restrictive laws eradicating other consumers' rights to buy a product at the lowest price. In the end, free trade gives consumers the greatest consumption possibilities with lower product prices, a greater product variety, and increased industrial competition. Free trade puts the burden of economic competition where it belongs, on the industries, not on the patrons of the world.