Economics is a complex social science and its central themes– supply, demand, taxation – are discussed and disputed by commentators with allegiances to many different theoretical perspectives. Free Trade Day is one such perspective in modern economic debate. Advocates of the Free Trade movement argue in favour of an international trading environment that operates without taxes or trade barriers. In turn, supporters of Free Trade relate the absence of trade barriers to economic benefits such as lower prices for consumers and growth opportunities for producers.
Professional economists study the impact of trade and taxation policies in depth in an attempt to understand the drivers of growth and prosperity. For those of us who are not professional economists, learning to see the bigger picture of world markets can be much more challenging. If you are in the latter category, Free Trade Day could be a good starting point to learn more about an important school of economic thought.