Trade and the theory of second best

Fathom Consulting // Insights // Trade and the theory of second best

Rarely out of the news since Donald Trump’s election victory back in 2016, the topic of ‘Trade Wars’ has returned with a vengeance this week. Asian stocks fell sharply on Tuesday, following news that the US Commander in Chief had asked officials to seek out a further $200 billion of Chinese imports that might be subject to tariffs. Following the work of David Ricardo, writing more than 200 years ago, many would see a belief in global free trade as...

Trade and the theory of second best