Research Paper for College Course -- Introduction to Microeconomics

For College Course -- origin to Microeconomics - Research Paper ExampleSmith is credited with being the first to examine the importance of the ingredient of labor and worker productivity and for advancing the idea that innocent markets thrive on the basis of unwashed self-interest. Although Smith warned against monopolies and mercantilism, his notion that markets are driven toward the public good by an invisible hand has do him a venerated figure among free market doctrinaires. (Answers.com). The purpose of this paper is to describe the pros and cons of free betray.Trade allowed nations to happen the goods and services the population needed in order to survive. In the 20th century the ability to peck with other nations became a critical success factor for many nations including the United States of America. Today free trade is practiced by many nations in the world. More than ever before in history we let out that free trade agreements are being sought by the worlds most po werful countries, as well as the developing nations. In short, free trade agreements are now mettlesome on the political agendas of many nations and the World Trade Organization.The globalization movement has been instrumental in forcing nations to figure into free trade agreement. In North America the free trade agreement that is enforceable is the NAFTA agreement. The NAFTA clear up free trade between the United States, Mexico, and Canada. NAFTA was designed to promote economic growth by spurring competition in domestic markets and promoting investment from both domestic and foreign sources (Teslik). The reason that NAFTA was initiated was because death chair Bill Clinton in 1994 saw the European Union as a threat to the Americas. A free trade agreement between the United States and its two neighbors was crafted to be a plausible solution that would jump the growing global economic trading power of the European Union.The implementation of free trade agreements eliminates the hypocrisy of tariffs in the trade of goods. As a consequence of the