Thursday, May 03, 2018

Economists Continue to Support Free Trade Policies

Earlier this week, the Free State Foundation published a new Perspectives from FSF Scholars by Senior Fellow Ted Bolema titled “Why Economists Consistently Support Free Trade Policies.” In the paper, Ted Bolema discusses how free trade policies promote economic growth, higher wages, and increased innovation in the economy.
Today, the National Taxpayers Union sent an open letter to President Donald Trump and members of Congress urging them to reject protectionist policies, such as tariffs and withdrawing from trade agreements. This is a response to President Trump’s decision to impose costly tariffs on certain goods and to withdraw from the Trans-Pacific Partnership. The letter was signed by more than 1,100 economists throughout the United States, including three members of FSF’s Board of Academic Advisors - Michelle Connolly, Stan Liebowitz, and James Prieger.
Free State Foundation scholars have maintained the position that bilateral and multilateral free trade agreements create innovation and economic growth, and strong protections of intellectual property rights implemented in those agreements encourage creation throughout the global economy. Make sure you read Ted Bolema’s new paper!