Freedom Of Trade

Essay by PaperNerd ContributorUniversity, Master's October 2001

download word file, 1 pages 0.0

Should the government allow more freedom of trade due to the recent terrorist acts, it would not only allow our country to have more help when it comes down to war, but it would also help the underdeveloped nations to get their foot in the door. By allowing the smaller countries to participate in world-wide trade, they will help to end poverty.

With a greater amount of trade, the workers of the United States will be able to specialize and thus create better products at cheaper prices. Once the smaller countries are trading more frequently, global output will drastically rise, allowing consumers to have a greater variety of choice.

If the United States is able to specialize due to greater trade, they will be able to produce higher end products, such as electronics and computers. With more expensive products being produced, the gross domestic product, or GDP, will rise.

A higher GDP results in a higher standard of living for the entire community, which is the goal of the economists.

When the poorer countries are more stable and have more money circulating in their economy, the people are more likely to have the chance to buy imports from our country. With a higher amount of exports, the United States will likewise have an increase in the money supply. Increased money supply leads to greater savings and therefore greater investment. Investment will also raise the standard of living by creating more jobs and more companies.