This
paper compares the values of free
trade to
managed trade. It begins by defining trade and identifying the ideal trade. The paper argues that free trade is the best
policy to increase prosperity and
equality in a
capitalist society. It describes managed trade as the current situation, as tariffs and trade policy try to create fair grounds for commerce between two nations, as seen through the example of Japan and the United States. The writer states that protectionist policies, as used in managed trade, have been the anthem of the past and have led to war and conflict.