Free Trade and The Free Movement of Labor

Paper Summary:

This paper looks at ways in which the first world protects itself from the advantages the third world, by creating a distortion of market forces. It illustrates how political issues are as important as economics issues within the world trade system. This paper examines the rules of economic theory, specifically the free movement of capital investments and the free movement of labor.

From the Paper:

"Over the past three decades, a remarkable internationalisation of the world economy has taken place. Key aspects of this process are free trade and the mobility levels of labour. In an attempt to integrate developing economies into the globalisation process, agencies such as the World Bank and the IMF promote free market ideological policies to poorer countries, sometimes making the implementation of such policies a condition of receiving financial aid. This, they argue, will increase prosperity and levels of development. But do the concepts of free trade and the free movement of labour really exist, let alone increase prosperity? Here we shall examine what these two concepts mean in practice, what their impact on prosperity is, and why objections have been raised towards this kind of liberalisation."

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