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Gains From Trade for Nonmaterialists, Environmentalists, and the Overworked

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  • Christian E. Weber

Abstract

The author proposes an alternative to the traditional definition of the gains from international trade and, hence, an alternative defense of free trade. Rather than showing that free trade allows a country to consume more of all final goods, the author's approach shows that free trade allows a country to consume the same basket of final goods that it would consume in autarchy but at a reduced cost measured in terms of foregone productive resources. Thus, free trade gives a country the option to maintain the same material standard of living that it would have enjoyed in autarchy while enjoying more leisure and using fewer natural resources in production.

Suggested Citation

  • Christian E. Weber, 2007. "Gains From Trade for Nonmaterialists, Environmentalists, and the Overworked," The Journal of Economic Education, Taylor & Francis Journals, vol. 38(4), pages 452-460, September.
  • Handle: RePEc:taf:jeduce:v:38:y:2007:i:4:p:452-460
    DOI: 10.3200/JECE.38.4.452-460
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