Each year the Federal Reserve Bank of Dallas produces an article with their annual report; in the year of 2002 the article was entitled “The Fruits of Free Trade.” The goal of this article was to work to explain free trade in a manner that not only provided an easy to understand overview of the topic of free trade, but one that would also resonate within the individuals reading it, working to push the globe into an era of free trade through the process of showing the benefits of the concept at hand.
The article starts out by discussing how much is truly imported from other countries by America, and seeing the true numbers. The article goes on to discuss that while free trade is not the same as fair trade, and that there is the potential for many American companies to be at a disadvantage within America as a result of free trade, the consumers themselves will benefit from free trade agreements; furthermore, the deficiencies experienced by America in her home country as a result of free trade could be turned into a benefit for those items that are exported by America, creating an alternate situation in another country. They work to explain the difference between the producers and the consumers and how both would be able to benefit from a free trade agreement setup on a global scale.
The Federal Reserve Bank of Dallas works to explain how the international market truly works and attempts to explain the full extent of the global market in terms that their readers will be able to understand. Stressing the desire for cheaper goods, and the potential benefits of free trade and how it will serve to benefit the American public, if not the American corporations, the Federal Reserve Bank of Dallas works to make a semi-convincing case in the push for free trade within America’s borders.
- Federal Reserve Bank of Dallas. (2002). Fruits of free trade. 2002 Annual Report, 1-50.