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Free Trade under FireFifth Edition$
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Douglas A. Irwin

Print publication date: 2020

Print ISBN-13: 9780691201009

Published to Princeton Scholarship Online: January 2021

DOI: 10.23943/princeton/9780691201009.001.0001

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PRINTED FROM PRINCETON SCHOLARSHIP ONLINE (www.princeton.universitypressscholarship.com). (c) Copyright Princeton University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PRSO for personal use.date: 26 September 2021



(p.1) Introduction
Free Trade under Fire

Douglas A. Irwin

Princeton University Press

This chapter provides a background on why free trade is considered to be a desirable policy. It explains whether the most frequently made criticisms of free trade, such as its adverse impact on workers and the environment, have merit. It discusses what is the World Trade Organization (WTO), as well as how world trade rules erode a country's sovereignty and undermine its health and environmental regulation. The chapter also introduces basic economic principles and empirical evidence regarding international trade and trade policy. It mentions the perspective on free trade that was originally developed by David Hume and Adam Smith in eighteenth-century Scotland.

Keywords:   free trade, World Trade Organization, WTO, world trade rules, international trade, trade policy, David Hume, Adam Smith

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