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Other Papers on :International Trade

P/E/527. Free trade theories: critical review

(2006, 3500 words)

The paper examines the advantages and disadvantages of free trade critically reviewing the classical theories of Adam Smith, David Ricardo, John Stuart Mill, etc. The key assumptions of the theories, i.e. full employment, an international harmony of interests, perfect competition, etc. are argued; rationales of trade regulations are outlined.



 
   
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