Free Trade Debate - Debate On Applicability of "free Trade" To Current Economic Conditions

Debate On Applicability of "free Trade" To Current Economic Conditions

Another aspect of the debate over "free trade" revolves around the question of how much the concept accurately describes particular policies or economic conditions. Economist Dean Baker has argued in his book the Conservative Nanny State that regional trade agreements such as the North American Free Trade Agreement and Dominican Republic-Central America Free Trade Agreement and global trade agreements such as the World Trade Organization cannot accurately be termed "free trade" agreements because they actually increase certain barriers to trade (such as through the creation of monopoly patents for pharmaceuticals), while decreasing other barriers. Baker recommends calling these policies "trade" agreements.

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