Gains From Trade for Nonmaterialists, Environmentalists, and the Overworked

Christian Weber

The Journal of Economic Education, 2007, vol. 38, issue 4, 452-460

Abstract: The author proposes an alternative to the traditional definition of the gains from international trade and, hence, an alternative defense of free trade. Rather than showing that free trade allows a country to consume more of all final goods, the author's approach shows that free trade allows a country to consume the same basket of final goods that it would consume in autarchy but at a reduced cost measured in terms of foregone productive resources. Thus, free trade gives a country the option to maintain the same material standard of living that it would have enjoyed in autarchy while enjoying more leisure and using fewer natural resources in production.

Date: 2007
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DOI: 10.3200/JECE.38.4.452-460

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