It has been proven time and again that free trade benefits every country. Only idiots are against globalisation.

"It has been proven time and again that free trade benefits every country. Only idiots are against globalisation."

Any logical evidence-based arguments for those statements or is the writer merely emoting?

EJ,

Adam Smith, generally considered the founder of economics, in his book “An Inquiry into the Nature and Causes of the Wealth of Nations” published in 1776 gave an exhaustive mathematical analysis of the benefits of free trade on improving the productivity and wealth of nations. This analysis forms the very basis of year 1 economics. Empirical proof is that every major reduction in world tariffs has seen a massive increase in trade, productivity and standards of living worldwide.

So yes there is iron clan proof that globalisation improves living standards worldwide.

shadow minister
A few points
You seem to base your economic opinion on a single book written in a very different time, with very different economic realities. What other publication written recently have you read, that thinks anyone who disagrees with you is idiot?

Globalization has enriched the multi nationals, as many spend more of their income on imports, without the matching exports.Some in the third world have left the farm to work in factories, which enable them to buy some of the output.

However many thousands more are living on city tips, sifting through the rubbish to pay the ever increasing rents they now have to pay.

I can tell you from just looking out my front window that globalization ,benefits are spread very unevenly and it is only going to get worse with automation.

And finally on another post you thought i was offended as you moved on to another post. I was not offended, but I dont appreciate being called an idiot, because I hold a particular view that is different to yours. If you want people to exchange opinions, then I suggest you dont insult them.

Lefty one:

"You seem to base your economic opinion on a single book" My god, is that all you really got out of it?

No, Adam Smith's work was the first example of using reason and logic to determine the economic consequences of trade and tariffs, and certainly far from the last. That it has nothing to do with politics or events of the day is why the work is so enduring, just like mathematics from centuries ago still applies today.

Economics is about numbers, maths and reasoning, not emotions, politics and posturing. But if you had even the very basic understanding of economics you would not make such a blunder.

shadow minister
In my opinion economics is about people,not just numbers. If people were just expendable machines then I would agree with you.,
To me the whole point of the economy is to support the well being of all people, not just those that have a certain skill set, or family connection.

I would agree that if number, such as GPD,life expectancy, and the number of fridges were the only way to measure the successes of an economy then things are improving with globalization.

However i (and many others)believe there are other issues such as home ownership, and control of ones life, are also important when improvement in an economy is measured.

So I hope you would accept that we can agree to differ,as opposed to throwing around insults, just because someone uses a different set of measures to come to a conclusion.

Chris