Teller Report

Free trade has a serious downside - this year's Nobel laureates in economics

12/2/2019, 8:26:21 PM

Award winners Abhijit Banerjee and Esther Duflo have published a book on the financial problems of our time. They say that free trade certainly gives cheaper goods but at the expense of some losing their jobs. - We make the mistake of assuming that the conversion to trade is cheap, says Abhijit Banerjee.


Against the backdrop of the US trade war, two of this year's economics awarders enter the debate on free trade. They receive the award for their research on development economics and poverty reduction. But even in the United States, they are seeing poverty rise - because of free trade, which has had a significant price in some parts of society. The communities where jobs moved abroad.

See the full feature in the clip above.