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Encyclopedia > History of free trade

A history of free trade or general trade would include the earliest concepts of exchange and barter of products and services.


The concept of free trade developed over time, and in its modern sense, from the commercial culture of England, and more broadly Europe, in the past five centuries. The earliest free trade theorists were David Ricardo and Adam Smith.


Free trade policies have battled with mercantilist, protectionist, isolationist, communist, and other policies over the centuries. Wars, such as the Opium Wars, have been fought primarily over trade.


Nations which have adopted free trade policies have generally profited more than isolationist nations, though wars or spending policies, partly affected by liberalized markets associated with free trade, have obscured the gains.



See also:


China trade; East India trade; West India trade; slave trade; triangle trade; Silk road


  Results from FactBites:
 
Free trade - dKosopedia (1119 words)
Free trade is the absence of artificial (government-imposed) barriers to trade among individuals and firms in different nations.
International trade is often constricted by different national taxes, other fees imposed on exported and imported goods, as well as non-tariff regulations on imported goods; theoretically, free trade is against all these restrictions.
Historically, the free trade movement was skeptical and even hostile to the notion of intellectual property, regarded as monopolistic and harmful to a free, competitive economy.
Free trade - Knowmore (7992 words)
Free trade is the untaxed flow of goods and services between countries, and is a name given to economic policies and parties supporting increases in such trade.
Free trade supporters argue that all countries have the right to opt out of the world market through isolationism and that companies are fictional persons who are taxed without representation and that the balance of power should shift away from the governments that exploit them.
Free trade, then, creates an economic incentive for a race to the bottom in regulatory institutions; countries with lax, lenient, non-enforced, or selectively enforced regulatory legal structures will have a competitive advantage in attracting investment to their countries, and not merely in wages.
  More results at FactBites »

 

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