Many economists and policy makers press for free trade. They cite the works of David Ricardo as the evidence for their tenets. Dani Rodrik shows that these models require careful consideration. As is indicated in this note, aggregate gains can be offset by losses – notably for low-skilled labour in advanced countries – if unfair trade in its manifold manifestations prevails. Keynes himself – a strong supporter of free trade during the Great Depression – asserted that the principles of balanced trade should prevail. This was the essence of his Bretton Woods posi-tion. Rodrik does not endorse protectionism, but rightly observes that it is neces-sary to actively manage the processes of globalization and world trade.
A FREE TRADE OR PROTECTIONISM? ALCUNE CONSIDERAZIONI SULLA BASE DEI LAVORI DI DANI RODRIK ∗ (Free Trade or Protectionism? Reflections stimulated by Rodrik's “Straight Talk on Trade”)
MASERA R
2019-01-01
Abstract
Many economists and policy makers press for free trade. They cite the works of David Ricardo as the evidence for their tenets. Dani Rodrik shows that these models require careful consideration. As is indicated in this note, aggregate gains can be offset by losses – notably for low-skilled labour in advanced countries – if unfair trade in its manifold manifestations prevails. Keynes himself – a strong supporter of free trade during the Great Depression – asserted that the principles of balanced trade should prevail. This was the essence of his Bretton Woods posi-tion. Rodrik does not endorse protectionism, but rightly observes that it is neces-sary to actively manage the processes of globalization and world trade.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
