At 02:37 PM 7/28/01 +0200 J. van Baardwijk wrote:
>>Foremost among those truths are that:
>>1) Free-trade benefits *everyone.*
>
>Those aren't truths -- it's capitalistic wishful thinking. :-(
It has been very well demonstrated that for any two countries, with any
given set of products, inputs, and productivity, free trade will benefit
both countries. This is true even if country A can produce every
available product with fewer inputs than country B.
The Law of Comparative Advantage has as much truth as the Law of Gravity
(which I udnerstand it is now fashionable to not refer to scientific laws
as "truths" - but I hate such existentialisms.)
JDG
__________________________________________________________
John D. Giorgis - [EMAIL PROTECTED] - ICQ #3527685
We are products of the same history, reaching from Jerusalem and
Athens to Warsaw and Washington. We share more than an alliance.
We share a civilization. - George W. Bush, Warsaw, 06/15/01
