Free Trade

Old and New Challenges

Dados Bibliográficos

ID9708034
AutoresJagdish Bhagwati, Jagdish N Bhagwati (Columbia University, autor correspondente)
Ano1994
Volume104
Fascículo423
Páginas231
Data de publicação1994-03-01
Peer ReviewedSim
Open AccessNão
TipoARTICLE
PeriódicoThe Economic Journal (JOURNAL)
Identificadores do periódicoISSN: 0013-0133 • E-ISSN: 1468-0297
EditoraOxford University Press (OUP) (PUBLISHER)
DOI10.2307/2234745
OpenAlexW2119647524
IdiomaEN
Citações recebidas14
Referências citadas21

The paper analyses the old and new challenges to the theory and policy of free trade. The old challenges have sought to undermine the case for free trade by citing one or another type of market imperfection. Thus, the postwar period has seen two such challenges: Factor market imperfections were analysed in the 1950s to 1970s, product market imperfections in the 1980s. The new challenges are twofold. One comes from the demands for fair trade as a precondition for free trade; the other, from the concern that free trade, while efficient, immiserises the unskilled in the richer countries

Economics · International economics · International trade · Economic Theory and Policy · Fiscal Policy and Economic Growth · Global trade and economics