The Free Trade movement's hypocrisy

Demonstration against TTIP in Madrid. Demotix/Marcos del Mazo. All rights reserved.Since globalization took off in the 1980‘s, free trade agreements have  generally been promoted by advocates as natural components of the free market. Mainstream economists, whether from more conservative branches like the Chicago school, or of progressive Keynesian disciplines, ultimately believe that the free market works to a degree, and that it should be promoted by governments around the world.

Of course there are major differences; progressives believe in strong regulatory apparatuses, while conservatives would have governments small enough to “drown in a bathtub” if possible. But the underlying belief in the free market essentially guides both economists on the left and right of the mainstream. Naturally, with the free market, comes free trade.

And with the rise of neoliberalism on both sides of the Atlantic (i.e.Thatcher and Reagan), freeing up international trade has become an important part of government policies and a major contributor to globalization. The World Bank and International Monetary Fund have played major roles in eliminating protective barriers for developing countries, and major trade deals, like NAFTA, have created an increasingly friendly environment for multinational corporations around the globe.