Free markets 101

  • 1999-01-07
While it is a myth that completely free markets exist for any commodity, global trade liberalization is an unstoppable and generally beneficial process.Consumers win through lower prices and a greater variety of available goods. Producers have to lift their game to compete, and few tears should be shed for those who cannot and go under. Countries and companies are forced to develop niches and specialize in what they are really good at.So far, so simple. Sadly, the Latvian government's decision to impose quotas on Estonian pork shows that it must go back to economics elementary school.When t...
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