Difference between revisions of "What Is Wrong With Libertarianism"
From Critiques Of Libertarianism
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* [[Free Trade]] | * [[Free Trade]] | ||
| − | Free trade should benefit all if there is comparative advantage. But in the real world there is absolute advantage, due to mobility of capital. This means that free trade can (and does) harm some according to the academic literature. Undeveloped nations that have been foolish enough to listen to free trade advocates have languished in poverty, while those that have strategically erected trade barriers have developed. That pattern is universal. The libertarian unequivocal endorsement of free trade is merely the voice of predatory business which doesn't care if absolute advantage results in harms. | + | Free trade should benefit all if there is comparative advantage. But in the real world there is absolute advantage, due to mobility of capital. This means that free trade can (and does) harm some according to the academic literature. Undeveloped nations that have been foolish enough to listen to free trade advocates have languished in poverty, while those that have strategically erected trade barriers have developed. That pattern is universal. The libertarian unequivocal endorsement of free trade is merely the voice of predatory business which doesn't care if absolute advantage results in harms. The reason multinational corporations flourish is because their internal transfers of capital between nations allows them to exploit absolute advantage at the expense of others. |
* [[Public Goods]] | * [[Public Goods]] | ||
