Protectionism vs. Corruption: Which Is Worse for the Economy?
The revulsion felt by many towards the two major party candidates this election is more than just a matter of personal feelings. There is an economic basis for the apprehensions that most people feel towards Trump and Clinton.
Free trade is essential for prosperity. Free trade allows the employment of people in different nations to shift towards areas of highest productivity. Economists have known about the advantages of free trade for centuries. In 1817 David Ricardo explained how free trade allows an international division of labor according to “comparative advantage.”