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Economists defend international trade. According to economic theory, specialization and trade create a more efficient use of global resources, increase the level of global output and raise living standards. Discuss the difference between theory and economic reality. Students should construct their discussion contributions based on the economic theory of comparative advantage and the following two articles: “A healthy re-examination of free trade’s benefits and shocks -An interview with John Van Reenen of MIT” May 4th 2018 The Economist by C.W. and “What governments can do for the losers from free trade – Subsidised jobs, opportunity zones and patient capital can make a big difference”
Sample Solution
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