According to neoclassical economic theory, as long as trade is voluntary, both trading partners benefit as they can capitalize on their comparative advantages in production. Indeed since 1980s, all developed countries and international organizations such as IMF, World Bank and WTO have been promoting free trade; yet most wealthy developed countries practice protectionism themselves. Discuss.. According to neoclassical economic theory, as long as trade is voluntary, both trading partners benefit as they can capitalize on their comparative advantages in production. Indeed since 1980s, all developed countries and international organizations such as IMF, World Bank and WTO have been promoting free trade; yet most wealthy developed countries practice protectionism themselves. Discuss