Compare the benefits of international trade proposed

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Reference no: EM133750186

Problem

Economists tout the benefits of international trade based on the economic concepts of comparative advantage and gains from trade through the efficiency of specialization. Economic theory suggests international trade lessens the burden of scarcity and improves living standards. Consider the contents of the CNBC video, "has globalization failed us?" Compare and contrast the benefits of international trade proposed in economic theory with the observations presented in the video. Using economic thinking, answer the following question. Is international trade good or bad for the United States and citizens of the globe?

Reference no: EM133750186

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