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March 30, 2009

Free trade

Filed under: market, politics — neosurya @ 08:24

Read an interesting post at cafehayek on Free trade.

Anyone skeptical of free trade must explain why political borders are economically relevant.  With the exception of pointing to (mostly rather vague and poorly considered) national-defense issues, protectionists have never managed — and I dare say never will manage — to impart genuine economic relevance to political borders.

Because all reasonably prosperous countries today impose no, or only very few, internal restrictions on trade, two facts stand: (1) free trade is in fact quite common, and (2) free trade is beneficial.

While this is very true, the devil is in details (as it usually is), and no country would eagerly grab this ideology. Humans never fail to revive their distrust and fear of each other. Today’s TOI had a front page report of how the Chinese Govt. had hacked into embassies of several countries all over the world (Times UK report). There was an editorial of how South Africa had denied visa to the Dalai Lama (BBC report).

My guess is that if left to their own schemes without large societies to mess with their thoughts, humans would be rather OK interacting with each other.

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