Radical Austrianism, Radical Libertarianism

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1. Free Trade

  • Radical Austrianism Radical Capitalism
July 28, 2005

Tags Free MarketsPolitical Theory

Free trade is "I give you something; you give me something in return". Trade rights are part of property rights. Nosick calls trade a capitalist act between consenting adults. If you trade, you won't fight. It becomes harder to have wars. Trade benefits all parties.

Fair trade instead of free trade? If we got rid of absolute advantage and comparative advantage, we'd have zero trade. Free trade is a unilateral declaration of free trade, like Hong Kong. It is not like NAFTA which is managed trade, or mercantilism.

Lecture 1 of 10 from Walter Block's Radical Austrianism, Radical Libertarianism.

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