English to Italian Bus/Financial Economics globalizzazione

To drive the point home, I once quantified the ratio of redistribution-to-efficiency gains following the standard assumptions economists make when we present the case for free trade.15 The numbers I got were huge—so large in fact that I was compelled to redo the calculations several times to make sure I wasn’t making a mistake. For example, in an economy like the United States, where average tariffs are below 5 percent, a move to complete free trade would reshuffle more than $50 of income among different groups for each dollar of efficiency or “net” gain created!16 Read the last sentence again in case you went through it quickly: we are talking about $50 of redistribution for every $1 of aggregate gain. It’s as if we give $51 to Adam, only to leave David $50 poorer.