Classical liberalism has long understood free trade to be a boon for all involved. By producing according to each’s comparative advantage, countries can lift themselves out of poverty and consumers can access affordable goods. In recent years, however, there has been growing concern on both sides of the political aisle that decades of free trade policy have not been good for American workers. Is this criticism valid? Is the free market good for not only economies as a whole, but also the individuals within those economies? Is a trade deficit a concern? Is more government intervention needed, or the unleashing of more market forces?
Watch leading economists David Autor of MIT and Steve Hanke of Johns Hopkins take part in a discussion about trade policy—what’s working, what’s not, and what can be improved, in an event cohosted by Dartmouth Tuck and Cornell Johnson.