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Free Trade And Its Limits

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Chapter Summary

This chapter examines the main economic and policy assumptions about the merits and shortcomings of trade liberalisation. It also examines especially the different motives and arguments in favour of and against restricting international trade for non-economic purposes. Focusing on the main economic and policy arguments relating to the merits and shortcomings of international trade, the chapter attempts to provide a better understanding of the broader context within which the non-economic justification provisions of World Trade Organization (WTO) law are situated. The chapter focuses on economic and policy objections to free trade. It discusses in particular the arguments in favour of and against trade restrictions for reasons of national sovereignty and democracy, environmental protection, labour standards and human rights, and cultural policy.

Keywords: cultural policy; environmental protection; free trade; human rights; labour standards; liberalisation; World Trade Organization (WTO) law



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