The textbook describes several theories of international trade that have since b
ID: 1156375 • Letter: T
Question
The textbook describes several theories of international trade that have since been proven false or to have serious flaws, yet some politicians and sectors of the press still advocate them. Why do you think they do so? How could you affect that behavior? The textbook describes several theories of international trade that have since been proven false or to have serious flaws, yet some politicians and sectors of the press still advocate them. Why do you think they do so? How could you affect that behavior?Explanation / Answer
Answer:
Some of the international trade theories have serious flaws yet they get advocated for majorly political incentives.
Any government agency or press led by political influence when supports international theories of trade and suggests the gains of trade to cash in then it is mostly not happening for the sake of national interest rather to capture the incentives for interest groups and to convert into device for redistributing income to politically influential sectors.
One being a stakeholder in policies that are being formulated for specific sector/industry etc would have interest. These interests would lead him to lobby for or gaianst such policies. Such as if government is leering the free trade in one industry then the domestic suppliers or the association/organization of the domestic suppliers will lobby against it and would try to withhold the policies or to restrict it terms.
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