Free trade is a hot topic and it should be. The problem is that the so-called classical argument that free traders use to support the abolition of tariffs is only part of the classical theory of free trade. The correct classical theory rests on two pillars: the gold standard and comparative advantage. Without the gold standard the argument against tariffs collapses. As for self-professed globalists, they are using the free trade argument to impose viciously destructive policies on the West.

There is also a second topic that deals with the dangerous and fallacious wealth effect concept.