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History Of Free Trade & Fair Trade Essay

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Below is an essay on "History Of Free Trade & Fair Trade" from Anti Essays, your source for research papers, essays, and term paper examples.

Over the course of history, the debate between free trade and fair trade has become more complicated with the continual immersing of the global economy. Proponents of free trade believe that through a system of voluntary exchange, the demands of justice are met while proponents of fair trade argue that exchanges between developed nations and lesser developed nations occur under uneven terms and should be made more equitable. This paper will go over some of the history of free trade and fair trade as well as covering the status quo of this controversy along with the various terminologies being used in the debate.
Before there was free trade, there was a policy called mercantilism which developed in Europe in the 16th century. Since then, early economists such as Adam Smith and David Ricardo opposed the idea and advocated free trade because they believed free trade was the reason why certain civilizations prospered economically (Cooper, 2000). Adam Smith pointed to certain civilizations such as the Egyptians, Greeks and Romans as examples of flourishing civilizations as well as non-western civilizations such as East Bengal and China to support his claim that increased trading where each country produced the goods in which they are most efficient at and trading between each other was the reason these civilizations prospered (Cooper, 2000). The dispute between free trade and mercantilism was the most important question in economics after Netherland overtook the Spanish in the 16th century as the world leader of the time (Cooper, 2000). Classical liberals in the 19th and 20th century believed that free trade promoted peace as long as it was combined with internationally coordinated domestic economic policies to promote high levels of employment, and international economic institutions (Cooper, 2000). Through this, the interests of countries were not in conflict with each other.
The free trade ideals which are intact today date back to the American Revolution when...

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"History Of Free Trade & Fair Trade". Anti Essays. 17 Dec. 2018


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History Of Free Trade & Fair Trade. Anti Essays. Retrieved December 17, 2018, from the World Wide Web: http://parimatchstavki7.com/free-essays/History-Of-Free-Trade-Fair-187166.html