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Unformatted text preview: cost, many U.S. firms found it increasingly difficult to produce and sell textiles and clothing at a profit. As a result, they laid off their workers and shut down their fac-tories. Today, much of the textiles and clothing that Americans consume are im-ported from abroad. The story of the textiles industry raises important questions for economic pol-icy: How does international trade affect economic well-being? Who gains and who loses from free trade among countries, and how do the gains compare to the losses? A P P L I C A T I O N : I N T E R N A T I O N A L T R A D E 179...
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- Spring '10