This paper analyzes the old and new challenges to the theory and policy of free trade. The old challenges have sought to undermine the case for free trade by citing one or another type of market imperfection. Thus, the postwar period has seen two such challenges: factor market imperfections were analyzed in the 1950s to 1970s, product market imperfections in the 1980s. The new challenges are twofold. One comes from the demands for fair trade as a precondition for free trade; the other from the concern that free trade, while efficient, immiserizes the unskilled in the richer countries. Copyright 1994 by Royal Economic Society.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 104 (1994) Issue (Month): 423 (March) Pages: 231-46 Download reference. The following formats are available: HTML
(with abstract),
plain text
(with abstract),
BibTeX,
RIS (EndNote, RefMan, ProCite),
ReDIF
For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).
Related research
Keywords:
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)