The Importance of Free Trade

Day 2
Session 1
10:20 AM

This lecture will examine the importance of free trade. It will begin by looking attacks on free trade from politicians and religious leaders. It will then examine the conditions in which free trade benefits countries and by explaining why protectionist interests are still so prominent in politics. The course will then examine the implications of free trade for prosperity in less developed and more developed countries. The idea that developing countries need to protect their industries in the early states of development will be examined along with the importance of free trade for development.


Recommended Readings

Douglas Irwin, Free Trade Under Fire, fourth edition, Princeton University Press.

Johan Norberg, Progress - Ten Reasons to Look Forward to the Future, published by Oneworld

Daniel T. Griswold, Mad About Trade: Why Main Street America Should Embrace Globalization, Cato Institute

David Autor, “Another kick in the teeth”: a top economist on how trade with China helped elect Trump, blog post at: 

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Philip Booth, Ph.D.

Professor of Finance, Public Policy and Ethics and Dean of the Faculty of Education, Humanities, and Social Sciences
St. Mary’s University, Twickenham
Philip Booth Headshot