
Martin Schulz, European Parliament President meets with Chrystia Freeland, Minister of Trade of Canada in a last ditch effort to save the much disputed Comprehensive Economic and Trade Agreement – CETA between the EU and Canada. Event Date: 22/10/2016. City: Brussels. Copyright: © European Union 2016 – Source: EP.
Discover more from The European Sting - Critical News & Insights on European Politics, Economy, Foreign Affairs, Business & Technology - europeansting.com
Subscribe to get the latest posts sent to your email.





































There seems to be a misunderstanding on behalf of people though that the benefits of free trade are spread out throughout society with lower prices. People like to harp on free trade because they don’t understand how it is putting money in their pockets. Of course there are losers and there are winners, but all of the most rigorous economic analyses show that free trade boosts overall aggregate economic growth. The problem is that since the winnings are often diffuse (lower prices for everyone) and the losses are concentrated (a particular type of industry shutting down), we tend to focus on the losses more without keeping in mind that the gains far outweigh the losses. It is incumbent upon governments that engage in trade liberalization to find ways to reorient, support, and train workers that are affected by this dislocations.