By Jeffrey A. Tucker Both major political parties in the United States seem to have abandoned the idea of free trade. As with free immigration in the United States and the whole world, the theory and policy has hit the rocks and regimes around the world are looking for other answers. This represents a dramatic […]
Tag: Trade
Trade is a basic economic concept involving the buying and selling of goods and services, with compensation paid by a buyer to a seller, or the exchange of goods or services between parties. Trade can take place within an economy between producers and consumers. International trade allows countries to expand markets for both goods and services that otherwise may not have been available to it. As a result of international trade, the market contains greater competition and therefore, more competitive prices, which brings a cheaper product home to the consumer.
