International Trade

One of the foundations of the international capitalist system that has proven to be an engine of economic growth responsible for lifting billions [Page 830]out of poverty is international trade. The logic of how voluntary exchange improves the lives of those involved in that activity is a widely accepted tenet of economic science. It is also true that there are intense political debates about how trade may harm local economies, contribute to environmental degradation, endanger national security, and contribute to a widening gap between the rich and the poor. The relationship between trade and poverty alleviation is, on the one hand, clear, but details about how any particular trade relationship is working in terms of its impact on the poor is a highly contested topic.

Adam ...