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A World of Wealth: How Capitalism Turns Profits into Progress by Thomas G. Donlan

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Chapter 3. A Capitalist Prescription for Trade: Free Exchange Enriches Both Sides of Every Deal

Free trade is the power to ignore borders and boundaries on the road to wealth and progress.

For a demonstration of the benefits of free trade, look to the world’s largest, oldest, and most prosperous free-trade zone, the United States of America. If the United States were 50 countries with 50 currencies and 50 protectionist legislatures, it would look like Old Europe or Latin America. Even if these 50 countries were fortunate enough to avoid wars over trade, they would never be as rich in material goods or opportunity as the United States is today. Each state might be prosperous within the limits of its natural advantages, but as a single country with ...

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