Weathering the Storms: Bjorn Lomborg on Climate Change, Global Priorities | GoodFellows: John Cochrane, Niall Ferguson, H. R. McMaster | Hoover Institution
GoodFellows: Conversations from the Hoover Institution
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How Do We Make the World Richer?
When you open up for trade, the people who work in trade exposed areas will possibly see their incomes go down or maybe even lose their jobs. We've tried to make a standard economic model of what increased trade means if you then also look at what will be the impact of import and imposed areas. And what we find is overall, you get much better outcomes. That's only a benefit cost ratio of about 11. But for the poor part of the world, it's 95.
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