Episode 314: What Happened to Trade?
Words & Numbers
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Free Trade Isn't Fair
Bob Greene: People want trade to be fair, but how do you define fair? He says economists argue that there's only one possible definition in any practical sense and that is that the two people willingly exchanged. In a condition of free trade, every trade is fair because we both agreed to it freely, he says. Greene: If I'm out of work and I'm selling things to you to pay my rent and you're buying them, I'm still better off. Even in a bad situation, the trade itself is still a positive good in my life.
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