By: Mark Anderson
There are a few issues on which liberals and conservatives agree. The idea that free trade has the potential to benefit all is one . So why then has there been such contentious debate over the Trans-Pacific Trade Agreement (TPP) despite the support for free trade? One answer is that TPP is less about free trade than managed trade, mostly to the advantage of corporate interest.
THE ECONOMICS OF FREE TRADE
Gains from Trade Based on Comparative Advantage and Specialization
In 1817, British stockbroker David Ricardo published his “The Principles of Political Economy...
By: Conner Lee
GlaxoSmithKline (GSK) is Britain’s biggest drug maker. Chinese authorities found GSK guilty of bribing both hospitals and doctors to help promote their products in China, using a network of nearly seven hundred travel agencies to pay medical professionals, health-related organizations, and government officials. According to Chinese authorities, GSK funneled about 3 billion yuan, or US$482 million, through this network to recipients. Receipts were forged for purchases and transactions that never took place, including fake conferences. At first, GSK denied any involvement in the bribes. Then, after an internal...
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