The Political Economy of
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The Political Economy of International Trade
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The economist would argue, however, that it is worth it to suffer such losses. Those losses allow for thousands of other companies to expand their operations, and for millions of shareholders to improve their wealth. As a result, the economy as a whole benefits. Job loss and hardship are an inevitable byproduct of economic change. Yet as human history has shown, nothing stays the same. Just as the powerful Incan Empire fell within days of the Spanish arrival in Peru, so too can industries fall just as quickly and painfully. The beauty of human beings is that, on the whole, we are a very adaptable species. There will always be those among us who are left behind, but conflict, strife and adaptation are essential to the strengthening of the species
It would be easy for the international business manager to extol the virtues of adaptation, or of sacrifice for the greater good, to the masses of workers left behind as a result of the demolition of free trade barriers. However, it would be tough to justify to any given individual why they should be the one to sacrifice for the greater good of the nation. For younger workers, the
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