Sign the Petition for Free Trade

As economic woes continue, more and more are calling for protectionism in our economic policy. Large industries that are no longer financially stable or relevant call out for government subsidy. Unions cry out for bans on less expensive imported goods and labor.  The fear caused by economic downturn has driven many to question the prosperity, growth and relative peace created by the free market policies of the last twenty years.

In response a petition has been formed urging the G20 to commit themselves to free trade principles. The petition points out two specific benefits of free trade. One, it generally leads to more prosperity for more people. Two, it certainly affords a more peaceful world. 

Click here to sign the petition, it reads in part:

Free Trade Is the Best Policy

The specter of protectionism is rising. It is always a dangerous and foolish policy, but it is especially dangerous at a time of economic crisis, when it threatens to damage the world economy. Protectionism’s peculiar premise is that national prosperity is increased when government grants monopoly power to domestic producers. As centuries of economic reasoning, historical experience, and empirical studies have repeatedly shown, that premise is dead wrong. Protectionism creates poverty, not prosperity. Protectionism doesn’t even “protect” domestic jobs or industries; it destroys them, by harming export industries and industries that rely on imports to make their goods. Raising the local prices of steel by “protecting” local steel companies just raises the cost of producing cars and the many other goods made with steel. Protectionism is a fool’s game.

But the fact that protectionism destroys wealth is not its worst consequence. Protectionism destroys peace. That is justification enough for all people of good will, all friends of civilization, to speak out loudly and forcefully against economic nationalism, an ideology of conflict, based on ignorance and carried into practice by protectionism.

...Trade’s most valuable product is peace...

Without a doubt, free trade increases material prosperity. But its greatest gift is not easily measured with money. That greatest gift is lives that are freer, fuller, and far less likely to be scalded or destroyed by the atrocities of war.

Read the full the text of the petition here.

(Hat-tip: The Volokh Conspiracy)