019 Top Priority Podcast | Free Trade and the World Trade Organization
Show: 019 Top Priority Podcast | Free Trade and the World Trade Organization
Date Recorded: January 28, 2020
Host: Duane Lester, Manager of Issue Education, Grassroots Leadership Academy
Guests: Dan Pearson, Trade Policy Fellow, Americans for Prosperity
Show Notes & Timestamps
- What is the history of the World Trade Organization (WTO)? min [1:00]
- What was the world like before the WTO? What is mercantilism? min [5:22]
- Adam Smith pushed back again Mercantilism with his book The Wealth of Nations. min [6:41]
- The Wealth of Nations can be summarized into three main themes:
- Trade, when voluntarily initiated, benefits both parties, not just the exporter.
- Specialization allows for economies of scale and promotes economic growth.
- Collusion between government and business is harmful to the general population.
- Did the American Founders favor protectionist tariffs? min [11:05]
- The two functions of the WTO: min [30:05]
- Negotiations
- Dispute settlements
**Additional Resource**
- FREE copy of The Law by Frederic Bastiat
- Clashing Over Commerce by Doug Irwin
- The Wealth of Nations by Adam Smith
- On the Principles of Political Economy and Taxation by David Ricardo