tals of capitalism. Free trade is therefore beneficial to the minority who are capable of manufacturing their goods in societies that have more unskilled labourers and in turn can be compensated less. The labourers in the nations that have the technology to do something better but not necessarily cheaper are at the greatest disadvantage within a liberal free trade political economy. A nationalist political economy places the emphasis on the nation as a whole. The nation is more important than the individual whereas the opposite was found in the liberal political economy. A nation that executes free trade with a nationalistic approach is looking for the most benefits to the nation itself. The nations that benefit from free trade with this approach place an important emphasis on state power. That is, how powerful is the nation within the global community. Free trade enables nations to strive for global supremacy by importing materials at a cheap price and manufacturing them so as to export them at a higher price. The advantages of nationalistic free trade is larger countries (similar to the minority in liberal political economy) are empowered to attain materials for mass production at a cheaper price, from its less powerful trading partners. By manufacturing mass amounts of goods, all aspects of the economy (the workforce and other indirect secondary sectors) will benefit as a nation becomes more industrialised. Not only does that nation itself reap the benefits but the other sectors (the private) as well. Without examining the effects on their trading partners, a nationalistic political economy allows for the most wealth and power in both the public and private sectors. The disadvantage of a nationalistic approach is less powerful countries are forced to sell their resources to the larger countries who in turn can manufacture the resources or find someone else to manufacture the resources and than have their resources sold bac...
