explain your stance on free trade based upon your understanding and agreement/disagreeme
nt with these 2 theorists.
Adam Smith wrote about the “invisible hand’ and was in favor of free trade. Michael Porter wrote about national competitive advantage.
Discuss how these 2 theories are related. State and explain your stance on free trade based upon your understanding and agreement/disagreement with these 2 theorists.
Adam’s was a theorist who wrote several books regarding the economy. His book “ free hand” supported free trade which entitles that business people should be focused on their self-interest as it benefits them and also it adds wealth to the nations. He argued that individuals should operate in a free economy, make their own decisions according to their interest and take actions that benefit the entire community (Grampp, 2000).