Free trade is a policy by which a government does not discriminate against imports or interfere with exports by applying tariffs (to imports) or subsidies (to exports) or quotas. According to the law of comparative advantage, the policy permits trading partners mutual gains from trade of goods and services.
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Some articles on free trade:
... This is list of free trade agreements between two sides, where each side could be a country (or other customs territory), a trade bloc or an informal group of countries ... Every customs union, trade common market, economic union, customs and monetary union and economic and monetary union has also a free trade area ...
... Electorate Held by Protectionist Candidate Free Trade Candidate Labour Candidate Coolgardie Labour Hugh Mahon Fremantle Free Trade Elias Solomon William Carpenter Kalgoorlie ...
... Mackellar Protectionist Resignation Western Australia 20 May 1903 Norman Ewing Free Trade Henry Saunders Free Trade Resignation Victoria 21 January 1903 Sir Frederick Sargood Free ...
... Free trade area New Zealand free trade agreements United States free trade agreements European Union free trade agreements ...
... The value of free trade was first observed and documented by Adam Smith in The Wealth of Nations, in 1776 ... to mercantilism, the dominant view surrounding trade at the time, which held that a country should aim to export more than it imports, and thus amass wealth ... it in his 1817 book On the Principles of Political Economy and Taxation, it makes a case for free trade based not on absolute advantage in production of a good, but on the relative ...
Famous quotes containing the words trade and/or free:
“A nose, kind sir! Sure, Mother Nature,
With all her freaks, neer formed this feature.
If such were mine, Id try and trade it,
And swear the gods had never made it.”
—Susanna Moodie (18031885)
“Piety practised in solitude, like the flower that blooms in the desert, may give its fragrance to the winds of heaven, and delight those unbodied spirits that survey the works of God and the actions of men; but it bestows no assistance upon earthly beings, and however free from taints of impurity, yet wants the sacred splendour of beneficence.”
—Samuel Johnson (17091784)