IDEAS home Printed from https://ideas.repec.org/p/sec/mbanks/0166.html
   My bibliography  Save this paper

Why We Still Need Free Trade and Globalization

Author

Listed:
  • Dalibor Rohac

Abstract

Giving up on the institutions underpinning the current trade regime would be extremely unwise, particularly at a time of historically unprecedented economic distress accompanying the COVID-19 pandemic. Without the constraints imposed by the WTO and PTAs, nothing would stop politicians from reverting back to trade policies that cater to special interests while distributing the costs over the wider public. As the example of the Great Depression shows, such danger would be imminent in bad economic times when the temptation to impose discriminatory trade barriers would be strong and doing so would amplify the size of adverse economic shocks. A zero- or negative-sum economic environment provides fuel for extremist ideologies, militarism, and war. Avoiding such a scenario is precisely the challenge facing the world today.

Suggested Citation

  • Dalibor Rohac, 2021. "Why We Still Need Free Trade and Globalization," mBank - CASE Seminar Proceedings 0166, CASE-Center for Social and Economic Research.
    • Handle: RePEc:sec:mbanks:0166
    as

    Download full text from publisher

    File URL: https://www.case-research.eu/files/?id_plik=6615
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    globalism; free trade; tariff; WTO; USA; COVID-19;
    All these keywords.

    JEL classification:

    • B17 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - International Trade and Finance
    • B27 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - International Trade and Finance
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sec:mbanks:0166. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Anna Budzynska (email available below). General contact details of provider: https://edirc.repec.org/data/caseepl.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.