Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people. It provides a framework for understanding the actions and decisions of individuals, businesses and governments. It provides a means to understand interactions in a market-driven society and for analyzing government policies that affect the families, jobs and lives of citizens. Economics is important for many areas of society. It can help improve living standards and make society a better place.
Trade—like technology—creates new, higher-paying jobs for Americans as well as for America's trading partners. ... They give consumers greater purchasing power, as trade allows them to buy a wider variety of goods at lower prices. Trade has been a part of economic development for centuries. It has the potential to be a significant force for reducing global poverty by spurring economic growth, creating jobs, reducing prices, increasing the variety of goods for consumers, and helping countries acquire new technologies.
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Some Good News on Inequality
