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Zero-Sum Thinking in Trade: A Misguided Approach to Capitalism
Zero-Sum Thinking in Trade: A Misguided Approach to Capitalism
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Adam Smith's foundational insight—that voluntary exchange benefits all parties—stands in stark contrast to modern zero-sum trade rhetoric. The WHITE House's celebration of an "extremely one-sided" deal with Vietnam reflects a troubling Hunger Games mentality. Free markets thrive when both sides prosper, not when one exploits the other.
Smith's "propensity to truck, barter and exchange" remains the bedrock of wealth creation. Forced asymmetrical deals, by contrast, impoverish nations and undermine the very capitalism they claim to champion. The Vietnam agreement, conspicuously lacking mutual concessions, exemplifies this corrosive dynamic.
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