Free Trade- Is It Beneficial?

The benefits of free trade are controversial; it is not necessarily free, nor is it always fair, and like globalization it is not black and white. Free trade agreements are tremendously powerful, and this paper will touch upon the effects these have on the world market and economic development. It is important to say that populations have been trading with each other since the earliest of times, it is a natural occurrence that we are driven to do. Whether free trade is deemed beneficial to the individual or not, it is of some assistance to address and compare both sides of the argument in order to make a sufficient explanation. It is for this motive that both sides of the argument will carry my thesis in support of free trade. Exchange is good not only for free trade members but the world as a whole. This paper will first discuss how free trade spreads growth through means of reciprocity and lower tariffs. It will further support how open barriers of trade support innovation and new business practices within communities, as well as the virtuous benefits of comparative advantage. Free trade is beneficial as it progresses globalization in order to spread growth, lower costs and increase efficiency, and enhance the standard of living.

As we have come to learn over the course of our studies, investment creates money, money creates power, and power maintains peace. The most acceptable thing to say in regards to free trade and free trade agreements is that the gains we receive from trade are more than the losses. The benefits of free trade are not always obvious; the money gained from free trade is not always seen dispersed, and disbelievers see rising inequality because of this. My support for free trade is based around globalization- the expansion of regulated open trade around the world, consequently bringing the world closer together and increasing mutual gains. (2)

Open markets have become increasingly controversial over the years. Trade...