Is free trade sufficient to make all Australians better off?

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Is free trade sufficient to make all Australians better off?

Economies of Scale
National GDP

2007-03-20 15:13:57 · 2 answers · asked by mirnic_85 1 in Social Science ➔ Economics

2 answers

Not particularly.

Proper tarifs and price protection are needed to protect a country will such a small economy.

Free trade could lead to other larger economy countries taking advantage of Australia.

2007-03-20 16:06:00 · answer #1 · answered by Santa Barbara 7 · 0⤊ 0⤋

Free trade is paramount.
If by price protection you mean price control...thats not a good idea.
There are cases made for tariffs.
Search: 'Four thousand years of price control.'

2007-03-20 18:26:49 · answer #2 · answered by JL 2 · 0⤊ 0⤋