1 thought on “Richard Cobden: the unsung hero of free trade”

  1. Posted 04/04/2020 at 20:59 | Permalink

    “the modern trade agreements that continue to bring benefits to the world today”
    Ook, that’s horrible phrasing. And taken as it’s written it’s assertion. Trade agreements today usually have quotas and some restrictions or exclusions on legal products. There also numbers on, for example, the amount of trade between South Korea and the EU which show a substantial amount of trade taking place outside the agreement they have.
    Moreover countries that have trade agreements are almost always going to be friendly and cooperative to each other, hence they got round the table in the first place. So there’a a good argument that the trade agreement is a symptom not a cause of the benefits.
    If you’re going to assert that the trade agreements are the cause of the benefits, you’ve got all your work ahead of you. Even more so if you use UFT as your counterfactual.

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