Globalization as Framed by the Two Logics of Trade
By James M. Buchanan Jr.
Yong J. Yoon

This article appeared in the Winter 2002 issue of The Independent Review


Adam Smith and David Ricardo gave different if complementary arguments for free trade and open markets. Unfortunately, although more people would find Smith’s case compelling, neoclassical economists usually articulate Ricardo’s case, resulting in less public support for the open trade policies that economists overwhelmingly support.

Other Independent Review articles by James M. Buchanan Jr.
    Summer 2000   The Soul of Classical Liberalism

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