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Argument: Free trade allows for specialization across countries

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Supporting evidence

  • "The Pros and Cons of Pursuing Free-Trade Agreements". The Congressional Budget Office. July 31, 2003 - "Benefits from Increased Exports and Imports: The most-direct economic benefits from international trade arise from the fact that countries are not all the same in their production capabilities. They vary from one another because of differences in natural resources, levels of education of their workforces, relative amounts and qualities of physical capital, technical knowledge, and so on. Without trade, each country must make everything it needs, including things it is not very efficient at producing. When trade is allowed, by contrast, each country can concentrate its efforts on what it does best relative to other countries and export some of its output in exchange for imports of products it is less good at producing. As countries do that, total world output increases. World output may also grow because of greater use of economies of scale, as a factory in one country can serve a market the size of two or more countries rather than one."

Counter-argument

See also

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