Ricardo’s theory drove policy and political power for two centuries fortifying the corporate and conservative proponents of alleged “free markets” (See: Destroying the Myths of Market Fundamentalism) and “free trade.” The theory’s endurance was remarkably resistant to contrary obvious empirical evidence. Whether Ricardo envisioned or not, “free trade” became an instrument of colonialism entrenching poor nation’s in extracting and exporting of natural resources while becoming almost totally dependent on western nations’ value-added manufactured products. Answer – the touted theory of comparative advantage embedded in so-called “free trade.”In reality there is no such thing. It is corporate managed trade under the guise of “free trade.” As Public Citizen attorney Lori Wallach asked her audiences, while holding up heavy volumes of NAFTA and WTO trade agreements – “If its free trade why are there all these pages of rules?” Because they are corporate rules often having little to do with trade and everything to do with the subordination of labor, consumer and environmental rights and priorities. The son of Lebanese immigrants to the United States, Nader attended Princeton University and Harvard Law School.

Source: The Guardian June 24, 2022 23:22 UTC