Free Trade versus Protectionism

Saw this pic on the MOB's blog.



I am actually ambivalent in this 'local' vs 'foreign' debate. I believe free trade works for the benefit of all, although some of the poorer/low-skilled segments of society are made worse off with globalization and the free movement of goods/services and labor across borders.

Some jobs may be lost, but new ones will be created. It is not a zero-sum game.

Then again what do I know. I am just a beneficiary of the present system - without which I would not be able to 'export' myself, my skill-sets and become a 'foreign-born' professional in the USA. (I might also add - as well as a significant proportion of my readers now working outside of Singapore. You know I know who you are.)

A related old post by Greg Mankiw. What he said: "I thought the readers of this blog--an elite group--might enjoy it." sounds so wrong. Heh.