not return on savings

well its an implication of time preference, but specifically the time value of money

https://fixingtheeconomists.wordpress.com/2014/05/01/arguments-against-free-trade-and-comparative-advantage/

Fuck Free Tradeeeeee

whats it say

Competitive advantage works up to a point but it doesn't scale to infinity like some people would like you to think

It doesn't work at all really

tl;dr wrong because full employment assumption, industry stripping, etc

@slavecaste What is the concept of "free trade" exactly?

The fact that we can trade globally without any tariffs and it'd be all good

So what is the problem with it?

Yes it does

In principle it works, specialisation and labour division increases efficiency

If there was no cost to transport or sell/buy goods (ie no tax, costs to enter market ect.) Then it would be fine

The reason it doesn't work is because of geopolitical concerns and unfactored costs

You can have that without free trade

There are way more reasons that it won't work that aren't even that

Because it doesn't work how theorized (wages fall, industries disappear, unemployment rises, etc)

Competitive advantage had nothing to do with free trade, I do not agree with the author combining the two. Unemployment may rise in the short term but will fall in the long term

And industries dissapering is not it "not working"

You would expect industries to dissaper

It only falls due to government stimulus, not free trade

That is not how it is theorized.

Yes it did? What? LOL

Inefficient industries wither away leaving only what is nessicary

Its an argument in favour of free trade but the concept is still sound without free trade

But the industries that do wither away are efficient, not inefficient.

No. Take coal in the UK for example

Yes.

Shit you're right

The concept is retarded even without free trade and to use it as a defense for free trade is shitbrain.

I disagree with Thatcher's methods but the coal mines were inefficient and the workers were holding the government hostage

That's good

No

Yea

Its good for coal mine workers

Its not good for the country as a whole

Ya

And?

Well the industry had become bloated and inefficient and could not survive without the government propping it up

We aren't talking about Britain first of all