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The Free-Trade Paradox
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The Free-Trade Paradox

The Bad Politics of a Good Idea

Alan S. Blinder
Foreign Affairs, 2018
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Editorial Rating

9

Qualities

  • Eloquent
  • Hot Topic
  • Engaging

Recommendation

The United States today is less attuned to the benefits of global trade than it once was, says economist Alan S. Blinder in this eloquent essay that makes a strong case for free trade. He points to the Trump administration’s protectionist moves, which have already agitated financial markets and could further ripple through the US economy. In arguing on the side of free trade, he takes the long view and provides crucial historical perspective. This topical piece is likely to interest trade experts, economists and executives engaged in international business.

Summary

Economists, from the times of Adam Smith and David Ricardo to today, have posited that free trade always benefits a country’s economy. The age-old idea of “comparative advantage” contends that each nation engaged in open trade gains in some important way. Yet modern Americans aren’t convinced of that, as demagogic politicians and other free trade opponents readily point to foreign firms and labor as the source of US troubles, thereby deflecting attention from other underlying issues. 

It hasn’t always been like this. In the years following World War II, Western...

About the Author

Alan S. Blinder is a professor of economics and public affairs at Princeton University.

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