A look at the debate over the advantages and disadvantages of free trade from a capitalist's and socialist's perspective.
# 64953 | 2,590 words | 6 sources | APA | 2006 |
Published on Apr 15, 2006 in English (Analysis) , International Relations (General) , Political Science (General) , Hot Topics (General)
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This paper examines the reasons why capitalists are in favor of free trade and why socialists oppose free trade. The paper concludes that neither side could ever reconcile their opposing positions because the fundamental approach of both philosophical schools of thought are so different. The paper also concludes that this is not necessarily a bad thing because it brings a balance to politics and society.
From the Paper:"Proponents of free trade, or globalization, since the two have become largely interchangeable, include the World Bank, IMF, and all of those who share a capitalist philosophy. To these groups, "'Globalization' describes the ongoing global trend toward the freer flow of trade and investment across borders and the resulting integration of the international economy. Because it expands economic freedom and spurs competition, globalization raises the productivity and living standards of people in countries that open themselves to the global marketplace" (CTPS). In other words, free trade is good not just for businesses but also for societies in their entirety."
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