What are some problems EFTA is facing today?
Although this does not address the EFTA specifically, this website does give the pro and cons to the concept of free trade. A few of the ,main issues on the con side include: 1. The main goal of free trade is to maximize profits not welfare. There are two ways to maximize profit, either to increase sales or to cut costs. The easier one to do is cut costs because increased sales is ultimately dictated by the laws of supply and demand. In turn that deteriorates the number of existing jobs domestically. 2. Free trade agreements often force countries to privatize public services Some free trade agreements force countries to privatize certain public service industries such as health care. 3. Globalization is a “race to the bottom” The competition within the global economy is a race to the bottom that pressures countries to lower their production cost and wages to the lowest possible. Competing against each other, developing countries constantly push the cost of their labor force down in ord
