Free Trade

possesses both theoretical and practical flaws which render it unusable as a

rational basis of government policy making. [For alternative national trade

policies, see http://www/mkeever.com/essay]

'Free trade' seems to mean that trade between countries occurs with no

government regulation or restraint. Or, in other words, no quotas, licenses,

taxes, safety concerns, inspections, or limits of any kind. Business people

are free to do what they will in buying and selling products and services

This theory of trade has two categories of flaws: theoretical and practical.

Consider the theoretical underpinnings of 'free trade' theory:

'Free Trade' is a fuzzy concept which applies the concept of Adam Smith's

Invisible Hand [IH] to international trade. In order to fully understand

'free trade', we must first look at the IH concept. 'Free trade' shares many

characteristics and flaws with the IH.

Basically, the IH holds that the greatest good will accrue to the greatest

number of people when each agent in a market, both buyers and seller

. . .
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Approximate Word count = 1958
Approximate Pages = 8 (250 words per page double spaced)