please solve Canada is a party to the TransPacific Partnersh

please solve:

Canada is a party to the Trans-Pacific Partnership (TPP) deal reached on October 5, 2015. The TPP is a free trade agreement between Australia, Brunei, Chile, Canada, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, Vietnam and South Korea. Critics argue that TPP goes far beyond the realm of tariff reduction and trade promotion, granting unprecedented power to corporations and infringing upon the consumer, labour, and environmental interests. Proponents argue that the purpose of TPP is to serve as a pathway to Asia-Pacific regional economic integration that will help support the creation and retention of jobs in Canada and the other TPP countries.

i) Suppose you are a classical economist, would you advise that Canada withdraws from the TPP deal? Why or why not? Explain.

ii). Suppose you are a Keynesian economist, would you advise that Canada withdraws from the TPP deal? Why or why not? Explain

Solution

i) A classical economics in general states that the role of government in a free trade market is negligible. The role of the investor and manufacturer is not dominated under government\'s rule or boundations. As a classical economist, the advise to Canada is to withdraw from the TPP deal. The Trans-Pacific Partnership (TPP) agreed by Canada is an undertaking of government policy mutually agreed various different countries. It is critised for moving away from the path and not providing tarrif reduction and trade promotion to the traders and consumers. Since, the aim of the policy under TPP is to promote economic growth, the classical economist beg to differ from the government policy imposed in the same. The freedom to trade without interference of government is not accepted as per the classical economics.

ii)

A Keynesian economist in general believes to follow a statistical form of calculation which should be a part of monetary policy imposed by the government. As a Keynesian economist, Canada should not withdraw from the TPP deals because this deal is finalised by considering all pros and cons which might happen and this policy is generated by proper survey, calculations done by the government of different countries. It is a mututal agreement which required all the quantitative and logical analysis done by the government of various countries.