General Discussion
In reply to the discussion: "Free Trade" is a SCAM. It always has been. [View all]mckara
(1,708 posts)Last edited Wed Jun 29, 2016, 04:18 PM - Edit history (2)
After the Second World War, Europe and Asia were in ruins and the United States was the only industrial power remaining intact. The Soviet Union was firmly entrenched in Eastern and Central Europe, while Western Europe was teetering on the brink of joining the Communist Bloc. The U.S. realized it must invest in rebuilding Western Europe, which it did with the Marshall Plan.
Prior to the war, most countries, including the U.S., protected their domestic production with customs and tariffs. A rebuilding Europe and Japan could not compete with American Industry, unless there were no trade barriers hindering their access to American consumers. Thus, Free Trade policies were agreed upon in 1947 at Bretton Woods to facilitate the growth of worldwide industrial production and to strengthen capitalism in the West.
That's how Free Trade started and the unintended consequences were the fault of subsequent American leaders who perpetuated these policies because of the advantages they provided to a burgeoning American Empire. Now, you can take over the argument to complain about the excesses...