Who Were the Sea Peoples?

In general. But we do not live "in general." We live in particulars. And free trade may not be so great in a particular case. An example: If I had been the king of the United States in 1985, I would have been worried about the fate of Detroit. Yes, the U.S. auto industry has become sclerotic, and things had to change. But I would have worried about the impending death of a great American city. What I would have done is declare a tariff on foreign automobile imports, set high enough in year one to protect Detroit's current sales, and then declining over, perhaps, 20 years, so that at the end there was no tariff at all. This gives the people of the city time to adjust their lives to the new reality. Other Americans would have paid somewhat more for cars during that period, but it would be worth it... to protect the common good of American society. Of course, I made myself king in the above scenario. An obvious problem is that in reality, once the tariff was establ...

Joe: An unemployed steel worker. Thaddeus: An economist holding a chair at Free Market U. Joe:  Boy, free trade sure hasn't worked out as promised. Just look at the devastation it has created in the Rust Belt. Thaddeus:  I can't imagine what you are talking about: why, I have a very sophisticated model in which it is clear there are always net gains from free trade. Joe:  What you mean by "model"? Thaddeus:  It is a mathematical abstraction, that leaves out large parts of the real world in order to reach a determinate result. Joe: So if your model leaves out large parts of the real world, how do we know its results apply to the real world? Thaddeus:  I did mention that it is a very sophisticated model, didn't I? Joe:  OK, let's say I grant that the results of your model do apply to the real world. You said it shows that there are always "net gains" from free trade. That implies that some people gain while others lose. How do yo...