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The Complete Idiot's Guide to Economics, 2nd Edition by Tom Gorman

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Arguments Against Free Trade

Today, most arguments against free international trade are mounted by special-interest groups. Both labor unions and management oppose free trade when they believe—sometimes correctly, sometimes incorrectly—that it will make them worse off. What they conveniently ignore is that free trade will make everyone else better off.
It is true that if the U.S. auto industry loses 5,000 jobs to foreign competitors, those 5,000 workers and their households are worse off. However, the millions of other households that can purchase less expensive, more efficient vehicles from a wider range of choices are better off. The pain endured by one of those 5,000 households may well be greater than the benefit enjoyed by any given car-buying ...

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