Dec1st2004

Free-Trade And Poverty Reduction

David Brooks writing in the New York Times discusses free-trade and the dramatic rise in living standards among poor nations,

What explains all this good news? The short answer is this thing we call globalization. Over the past decades, many nations have undertaken structural reforms to lower trade barriers, shore up property rights and free economic activity. International trade is surging. The poor nations that opened themselves up to trade, investment and those evil multinational corporations saw the sharpest poverty declines. Write this on your forehead: Free trade reduces world suffering. (emphasis added)

He concludes with,

Just once, I’d like to see someone like Bono or Bruce Springsteen stand up at a concert and speak the truth to his fan base: that the world is complicated and there are no free lunches. But if you really want to reduce world poverty, you should be cheering on those guys in pinstripe suits at the free-trade negotiations and those investors jetting around the world. Thanks, in part, to them, we are making progress against poverty. Thanks, in part, to them, more people around the world have something to be thankful for.

Overall a good read despite some small errors.

Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • del.icio.us
  • YahooMyWeb

2 Responses to “Free-Trade And Poverty Reduction”


  1. Gravatar Icon 1 DD Dec 1st, 2004 at 8:52 am

    I like the Bruce Springsteen quote.

  2. Gravatar Icon 2 True_Liberal Dec 1st, 2004 at 3:56 pm

Leave a Reply