I just finished reading the assignment for the weekend, "David Ricardo and the Cry for Free Trade" and I have decided that for my blog post this week I am going to state my opinion on free trade. :)
From what I have read, I have to agree with David Ricardo. His attempts to presuade Britian to allow free trade may not have been sucessful at first, but I think today If Britain could go back and time and agree with Ricardo, they would have. Ricardo saw Britain with two different futures: first, a protectionist island barricaded against foreign goods. Second, as a free trader. If Britian would have agreed with Ricardo and chose free trade, the free trade would have made it possible for the country's households to comsume more goods and at a lower price. Thus making free trade efficient and less costly than Britain producing everything for themselves. The blocking of imports also affects the workers and employees, because more jobs can be created by selling goods and services to other countries. Now this paragraph could go on and on about the benefits of free trade, but I think my two main points are above. Free trade helps grow the economy, and also helps the unemployed. I think David Ricardo was on to something with free trade, regardless of what the British thought.
1 comment:
I agree. Looking at the situation from Ricardo's point of view, the British seemed completely foolish. By simply cooperating with other countries around the world, they could have jump started their own economy. I do with the article did a better job explaining why the British made the choices that they did. What made them so resistant to the trade?
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