Chapter 3 The Pains from Trade

"The outsized role of reputation means international trade is not just about good prices, good ideas, low tariffs, and cheap transportation. It is very difficult for a new player to enter and take over a market, because they start without reputation. This along with the stickiness of labor means the easy flow of people and moneys that free trade is meant to leverage, and which the Stolper-Samuelson thesis is based on, does not work nearly as well on the ground."