generally bad for one or both of the paticipating countries
elmo like free trade, elmo assembled by cheap chinese labour!
by kung fu karl July 01, 2005
2 more definitions
The ability to buy and sell on your own terms, without gov't red tape, gay trade agreements, or 14 year-old 'fair trade' faggots getting in your face.
I want what Peter has; he wants what I have. So we trade, and we're both better off for it.
by RXtasy February 01, 2005
Generally good for both participating countries. Allows each country to stop doing things it's bad at, and be competitive in areas where it does the best.
"If there were an Economist's Creed, it would surely contain the affirmations 'I understand the Principle of Comparative Advantage' and 'I advocate Free Trade'." -Paul Krugman
by Oscar MacGorden March 23, 2012