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Justifications for Trade Restriction: An Evaluation

2 March, 2015 - 12:11

The conceptual justification for free trade is one of the oldest arguments in economics; there is no disputing the logic of the argument that free trade increases global production, worldwide consumption,and international efficiency. But critics stress that the argument is a theoretical one. In the real world,they say, there are several arguments that can be made to justify protectionist measures.