Views on the Impact of Free Trade and Trade Agreements
by samuel.groner on Oct 20, 2015 | Views: 58 | Score: 0
The effects of free trade are an economic debate for eternity, frequently discussed by people from all walks of life. I wanted to break down the different types of people with certain opinions about free trade to see if I could find any statistical trends. This spawned my data story which breaks down the varying perspectives on the topic by income, age, political party and views of personal finances. Perspectives cover ideas on free trade and trade agreements, which inherently should be tied directly to one another.
Trade Agreement's Impact by View of Personal Finances
This chart falls in line with expectations, as those who would classify their personal financial situation as "poor" are more likely to believe trade agreements hurt them. I believe this chart is impacted by a myriad of confounding variables other than personal finances. For example, there's potential that someone with good finances may be more intelligent and as such have a more comprehensive understanding of the less direct benefits of trade agreements.
Beliefs of Job Impact of Trade Agreements by Political Party
|Lead to Job Losses||51||44||45|
This was the most interesting chart to me. The chart depicts that people who associate with the republican party are the most likely to agree with the statement “Trade Agreements Leads to Job Losses,” which contrasted my perspective of the party’s general standpoint regarding trade agreements.
Perspectives on Free Trade by Age
|Good Thing||Bad Thing||Don't Know|
The older population generally is more against free trade, which makes sense because I feel as though free trade is an ideal many millennial support and the older generation is more likely to have witnessed the potential negative effects of free trade (with its impact specifically on manufacturing jobs).
Perspectives on Free Trade by Income
|Has helped family's finances||Is a good thing for the U.S.|
According to the polled individuals, income has a minimal effect on agreeing with the idea that free trade is a good thing for the U.S.. This was interesting to me particularly because of its contrast to the graph about perceived personal finances and trade agreements.