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Against Free Trade: Neoclassical and Steady-State Perspectives

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  • Daly, Herman E

Abstract

The author argues against free trade as a "default position" for international trade. He shows that arguments for free trade based on comparative advantage do not hold in reality. First, free trade makes cost-internalization for single countries difficult leading to standard-lowering competition and misallocation. Second, the international mobility of capital leads to absolute rather than comparative advantage for single countries, thus leading to maldistribution. Finally, the ecological basis seriously limits the scope for catching up. Priority should be given alternatively to domestic production of a steady-state type with balanced trade.

Suggested Citation

  • Daly, Herman E, 1995. "Against Free Trade: Neoclassical and Steady-State Perspectives," Journal of Evolutionary Economics, Springer, vol. 5(3), pages 313-326, September.
    • Handle: RePEc:spr:joevec:v:5:y:1995:i:3:p:313-26
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    Cited by:

    1. Jorge Buzaglo, 1999. "A Model of Structural Change and Openness: Applications to the Argentine economy," International Review of Applied Economics, Taylor & Francis Journals, vol. 13(1), pages 87-109.
    2. Lena Gerdes & Bernhard Rengs & Manuel Scholz-Wäckerle, 2022. "Labor and environment in global value chains: an evolutionary policy study with a three-sector and two-region agent-based macroeconomic model," Journal of Evolutionary Economics, Springer, vol. 32(1), pages 123-173, January.
    3. Soeren Jeppesen & Michael W. Hansen, 2004. "Environmental upgrading of Third World enterprises through linkages to transnational corporations. Theoretical perspectives and preliminary evidence," Business Strategy and the Environment, Wiley Blackwell, vol. 13(4), pages 261-274, July.

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