Search
Program Calendar
Browse By Day
Browse By Time
Browse By Person
Browse By Room
Browse By Section
Browse By Session Type
Search Tips
Virtual Exhibit Hall
Personal Schedule
Sign In
As a public policy and international relations topic within political science, trade theory is often taught in superficial ways. A general case against free trade is typically offered in classrooms and textbooks, but specific limitations and assumptions are often inadequately described. This paper seeks to present a more robust examination on the limitations of free trade. Greater emphasis is placed on how trade can create inequalities and unintended consequences. This includes a better understanding of the impairment of displaced workers. Rationales of those opposed to trade liberalization are discussed as well why the Smoot-Hawley Tariff Act of 1930 may be an invalid case when applied to a more globalized world. Additionally, more scrutiny is presented on the assumptions and limitations of Ricardo’s theory of comparative advantage. Lastly, a simple classroom simulation of Ricardo’s theory is presented to reveal how the gains from free trade might be achieved or invalidated.