You really understand free trade

Reader comment on: Thoughts on the Final Presidential Debate
in response to reader comment: So What?

Submitted by Harry Binswanger (United States), Oct 24, 2012 09:26

Bravo for your comments in the last paragraph about not erecting protectionist walls against Chinese goods. Very few people can see this point. The whole talk of America being "competitive" or "outcompeted" makes no sense at all. A given firm can be outcompeted by another firm, but a country cannot be outcompeted by another country: it is logically impossible.

Under free trade, each country specializes in the goods and services in which it has a comparative advantage. That is mutually beneficial (as all trade is, by definition).

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⇒ You really understand free trade [87 words]Harry BinswangerOct 24, 2012 09:26

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