In light of this information about the effects of free trade it is reasonable to ask if a case can be made to support free international competition, a free global economy, without using the economic efficiency argument. The answer is yes. Besides being the policy most likely to maximize the size of our economic pie, free trade also affects the determinants of economic success in a fundamental way. In the remainder of this article I will argue that free trade is likely to generate more satisfactory determinants of economic success than could be realized under any system of protectionism. It is a combination of these four factors that determine success for individuals, for businesses, and for countries.
Talent is that which determines the productivity of workers, businesses and countries.
For an individual, talent is the skills and knowledge that are acquired either naturally or through education. For businesses, talent is the ability to organize a group of individuals and a stock of capital to accomplish the goals of the company. For countries, talent is the physical and human capital acquired through investment and education as well as the natural resource endowments that are available for use in production. Talent is perhaps the predominant determinant of success especially in a market economy. But it is not the only determinant.