Trade Policy of a Free Society

This paper examines the various arguments that have been put forth in favor of protectionism, from both an accounting and philosophical perspective. The author concludes that arguments against free trade are based on faulty premises, illogical reasoning or incorrect facts. Part 2. This paper was published in Capital University Law Review 19(2): 301-41 (1990). Reprinted in Prace Z Zakresu Ekonomii Politycznej I Historii Mysli Ekonomicznej (Works on Political Economy and the History of Economic Thought), Akademia Ekonomiczna W Krakowie Zeszyty Naukowe Nr. 389 (Cracow Academy of Economics Scientific Book Number 389), Cracow, Poland: Cracow Academy of Economics, 1992, pp. 87-127