Define trade barriers and discuss 5 arguments for the use of tradevbarriers in South Africa

Nteboheng Fotho

Nteboheng Fotho

Tabitha Farrant

Hey. here are some info on free trade generally and in US from my research for http://essay.expert/ . Hope it helps:
Free trade has not worked for the non-Elites in the US since at least 1990. It has lowered productivity growth while moving production overseas. The data from the last 40 years indicates that most international trade has reduced US economic growth, labor participation, and wages. This was pointed out by the author's own research See: http://economics.mit.edu/files/6613/ This is also clearly seen in the lack of growth in the incomes of the Middle Class in developed nations since 1988. See: http://voxeu.org/article/greatest-reshuffle-indivi... During this period US Total Factor Productivity declined from around 1.5%/year to .4% as the newer production processes moved off of US soil See: https://www.bls.gov/news.release/prod3.t01.htm
A key point is that the standard economic models of International Trade are wrong. "Free Trade" can have benefits, but does mandate optimal outcomes. For example, lower cost players can transfer economic production to their soil. A nation can have net negative economic outcomes from trade. There are many equilibrium points (vs. the one of standard economics) in international trade when productivity changes or there are economies of scale. With many of these points it would be better for a nation not to Trade, this was demonstrated by Baumol and Gomory See: https://www.amazon.com/Conflicting-National-Intere...
The US has spent the last 30 years in negative equilibrium pts. We need to follow the actual Terrain of economic results vs. the incorrect map of standard economics. A simple approach is Warren Buffets idea to construct a market for import certificates. This is a rules-based approach (vs. rent-seeking), that would automatically balance trade See: https://en.wikipedia.org/wiki/Import_certificates

Lexie Kings