Is free trade a moral good?
Moral Maze
BBC
4.5 • 609 Ratings
🗓️ 10 April 2025
⏱️ 57 minutes
🧾️ Download transcript
Summary
President Trump has imposed tariffs on all America’s trade; China has hit back; other nations, including our own, are working out how to cope with what Sir Keir Starmer has called a “new world” governed by “deals and alliances” rather than rules. In this crisis, we have turned to the economists, who argue about percentages. But shouldn't we be asking – what is the moral thing to do?
Trump’s ‘MAGA’ project always said it wanted tariff barriers to revive US industry and rebalance world trade; the American voters chose that strong medicine; now they – and the rest of the world – must swallow it. The first question is not whether it will work; time will tell. The first question is: given the consequences for the whole world, does Trump have a moral right to exercise that mandate?
The second question is the one that confronts Britain, and all the other nations that have been reliant (perhaps too reliant) on trade and co-operation with America. It is not about numbers but about morality. The three most influential economic philosophers in history – Adam Smith, Karl Marx and J.M.Keynes – reached different conclusions about it.
Is free trade a moral good?
Chair: Michael Buerk Producers: Peter Everett and Dan Tierney Editor: Tim Pemberton
Panel: Anne McElvoy Ash Sarkar Matthew Taylor James Orr
Witnesses: Mariana Mazzucato Hamish McRae Maxwell Marlow Sir Dieter Helm
Transcript
Click on a timestamp to play from that location
| 0:00.0 | BBC Sounds, Music, Radio, podcasts. |
| 0:05.0 | Good evening. The World Economic Order, which President Trump is now threatening to beat to death with a barrage of tariffs, has always been seen by its champions, at least, as a moral universe as much as a global trading system. |
| 0:17.7 | For hasn't it given poorer people in rich countries cheap food and goods, |
| 0:22.4 | previously the privilege of the bourgeoisie? Hasn't it lifted billions of poor people in what |
| 0:27.7 | were poor countries out of their poverty? Didn't it simply make sense? As Free Trade's founding |
| 0:33.5 | father Adam Smith said, there's no point in building glass houses to grow grapes in Glasgow |
| 0:38.4 | when you can buy cheap wine from France. John Maynard Keynes, deploring an earlier bout of protectionism |
| 0:45.2 | he had once advocated, blamed human nature. Men have always devised ways to impoverish themselves |
| 0:52.1 | and one another, he said, and prefer collective animosity |
| 0:56.1 | to individual happiness. And yet, the exporting of whole industries to countries with lower |
| 1:02.6 | labour costs has left swathes of workers and entire communities as casualties. |
| 1:08.9 | Outsourcing critical industries and raw materials to countries |
| 1:12.0 | we can't count on as friends leaves us strategically vulnerable. Shifting so much stuff around |
| 1:17.7 | puts pressure on the planet. Philosophically, if self-reliance is a virtue for individuals, |
| 1:23.6 | why not for nations? Is free trade a moral good? |
| 1:27.9 | That's our moral maze tonight. |
| 1:29.2 | The panel, Anne McHelvoy, executive editor of the News and Commentary website Politico. |
| 1:33.8 | Ash Sarker from the Navarra Media Group, James Orr, an associate professor of the philosophy of religion at Cambridge University, |
| 1:40.9 | and Matthew Taylor, Chief Executive of the NHS Confederation. How do you see this, Matthew? |
| 1:46.8 | I accept that selective tariffs may sometimes be justified in very specific circumstances, but I don't |
| 1:52.6 | think that's what's been going on in America. I think Trump's case is, his moral case is bogus, |
| 1:58.8 | but I'm keen to explore it further. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from BBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of BBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.

