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support 0% · Classical economicsmoderated to 100%; argued down by 100%
by wikipedia on 2005-05-14 01:45:31Classical economic analysis indicates that free trade increases the global level of output (thus, increasing the global standard of living) because free trade permits specialization among countries. Specialization allows nations to devote their scarce resources to the production of the particular goods and services for which that nation has a comparative advantage. The benefits of specialization, coupled with economies of scale, increase the global production possibility frontier. An increase in the global production possibility frontier indicates that the absolute quantity of goods and services produced is highest under free trade.
summary
title: 'Classical economics'
text: 'Classical economic analysis indicates that free trade increases the global level of output (thus, increasing the global standard of living) because free trade permits specialization among countries. Specialization allows nations to devote their scarce resources to the production of the particular goods and services for which that nation has a comparative advantage. The benefits of specialization, coupled with economies of scale, increase the global production possibility frontier. An increase in the global production possibility frontier indicates that the absolute quantity of goods and services produced is highest under free trade.'
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date: 2005-05-14 01:45:31
submitter: wikipedia
effective: 0
support: 1
oppose: 0
stancePos: 1
stanceNeg: 0
stanceEffective:
repliesSupport: 1
repliesOppose: 0
repliesTotal: 1
comments: 0
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