Why Free Trade Agreements Aren't Free

Marxism and the question of free trade.

Sources:

Rodrik article:

Dani Rodrik. "What Do Trade Agreements Really Do?" Journal of Economic Perspectives, Volume 32, Number 2 (Spring 2018), Pp. 73 - 90

Other readings:

Reza Ghorashi. “Marx on Free Trade” Science & Society, Vol 59, No. 1 (Spring 1995), Pp. 38 - 51, Guilford Press

Jack Gao. “Why ‘Free Trade’ Agreements Serve Corporations First”
Institute for New Economic Thinking, Feb. 22, 2018.

Teresa Gutierrez. “NAFTA: Nothing to do with free trade” , Workers World, July 22, 1993

Adam Turl. “What They Won’t Say About NAFTA.” Socialist Worker (ISO), March 14, 2008

Jung, Y., & Kwon, S. (2015). The effects of intellectual property rights on access to medicines and catastrophic expenditure. International Journal of Health Services, 45(3), 507-529.

[Theorychad]

Channels like yours are immensely important! Keep it up

[ErikaBell_Z]

You make a lot of great videos that I save as reference sources.

[douglasphillips]

This is the best explanation for the problems of free trade agreements I have heard.

[georgesoap]

We need an episode about the meaning full development of capitalism to reach socialism

[mfelix]

great stuff mate, this is a really good breakdown

[animeiseva]

Great! Though lighting could be better

[matthewkopp]

Good analysis. Your first example, patents and copyright, once had a 7 year limit after which it became public domain. Everything is regulated in favor of corporations. Even Happy Birthday and Micky Mouse.

[gentlysanimations]

Could someone please tell me what that string music is, because I hear it all the time but I don't know the name.

[justamoteofdust]

Can anybody help me find the speech Marx gave on Free Trade? I want to read it.

[btecbob]

That music would've been better as just an intro. It gets a bit irritating

[jamescaley]

I think you missed a trick. You don't need a free trade agreement to trade freely, you just trade. Free trade agreements are more to regulate trade.

[rdg]

Does Marxist theory of free trade still apply in a modern context - Global labour saturation, many competing nations, more complex regulations governing the productive process and limiting factors such as Climate Change regulation?

[peterpeterpeterpeterpeterp]

What about single market areas like the European Union? Is that even more pro-capitalist?

[hitashasharma]

You said "trade simply maginifies the consequences of unlimited competition to global level" But the capitalism of today is far removed from unlimited competition. It has been characterized by monopolies and oligopolies since the beginning of 20th century and this continues well into present day. The encroachment of developed world is not through competition but monopolies and exclusive hegemonies over production.

[Booer]

I feel like using the word ‘lens’ really devalues Marxism as a project. Marxism may be a type of lens, but for the average person who come to these videos to learn, may think of Marxism a priori as a dogma with the label ‘lens’. I feel like worldview is more accurate. Or Weltanschauung in German origin.

[blackfreud]

“Free Trade?” Is that like “free lunch?” 🤔

[georgecitizen]

Plz plz stop the music it is disturbing

[rickeetewini]

Why shouldn't businesses be able to peruse dispute settlement against a government which breaks the rules that it's agreed to followed?

[andrewwells]

I'm only a couple of minutes in and there already mistakes; property rights exist independently of trade agreements, the whole point of an FTA is to make the flow of goods, services, capital and people easier, less bureaucratic and more streamline. Therefore it reduces the cost of medicine bought overseas from what it otherwise would have been.

2:25 *"unregulated capital flow becomes a serious liability in the event of inevitable financial crises"*

What is that even supposed to mean? FTAs are not "unregulated" and if in the event of a financial shock to one country does happen, having a cheap overseas supplier is *_obviously_* a benefit not a hinderance. Trade is the reason you have the same supply of food in winter as you do in summer and at the same prices, same principle applies here.

About 3 minutes in and I have no idea why you're talking about finance but FTAs increase investment and therefore per your own point, create jobs. 3:26 Investors don't withdraw investments they've already made. I pretty much lost motivation to continue here.

[richierich]

Person A: Hey! Would you like to buy some apples from me?
Person B: Sure! I'd like 2 please.
Communists: This is oppression!!!! Sent in the cops!!!