Free trade is the happy process that allows us to acquire as much as possible for as little as possible, all the while boosting our individual economicspecialization.
When individuals in other nations suffer the economic pain of inflation through declining investment, we too hurt for the natural expansion of the global division of labor that authors our economicspecialization being halted to varying degrees.
Indeed, economic thinkers of the World War II era understood that free trade was a growth-enhancing gift for promoting economic individual specialization and cooperation among global producers, and that a lack of unfettered trade in the 1930s arguably gave us the horror that was World War II.
Hausmann argues that diversification in the economic structure, and not necessarily specialization, may be a crucial factor for accelerating growth in India.