Free trade

Free trade

Under a free trade policy, prices emerge from supply and demand, and are the sole determinant of resource allocation. 'Free' trade differs from other forms of trade policy where the allocation of goods and services among trading countries are determined by price strategies that may differ from...

is one of the most debated topics in economics of the 19th, 20th, and 21st century. Argument

Argument

In philosophy and logic, an argument is an attempt to persuade someone of something, or give evidence or reasons for accepting a particular conclusion.Argument may also refer to:-Mathematics and computer science:...

s over free trade

Free trade

Under a free trade policy, prices emerge from supply and demand, and are the sole determinant of resource allocation. 'Free' trade differs from other forms of trade policy where the allocation of goods and services among trading countries are determined by price strategies that may differ from...

 can be divided into economic, moral, and socio-political arguments. The academic debate among economists is currently settled in favor of free trade, with a consensus having existed since at least the 1960s, based on theories dating to the 18th century. The debate among the public and politicians continues.
In the history of free trade, two types of arguments have been advanced in favor of allowing purchases from abroad, and free trade in the broader sense.

1. The first set of arguments is essentially economic, that free trade will make society more prosperous.