Free Trade & Trade Policy

A Regulated-Economy Agreement for the Americas

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DURING THE WEEKEND of April 20–22, 2001, the leaders of countries in North, Central, and South America met in Quebec, Canada, to approve an agenda for establishing free trade throughout the western hemisphere by 2005. The news media gave a great deal of attention to the thousands of demonstrators who clashed with the police. Representing a wide variety of diverse ... [click for more]

Free Markets Aren’t Conservative

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One of the great myths of the Industrial Age is that businessmen generally like free markets. That myth has deep implications and consequences. For example, someone who buys into it will tend to believe that proposals to deregulate markets are simply favors for special interests and inimical to the interests ... [click for more]

Free Trade without the “But”

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Heads of state throughout the Western Hemisphere gathered recently in Quebec City to talk about setting up a hemispheric free-trade zone. But as usual, the politicians spoke with forked tongues. When these guys say “free trade” they really mean “free trade, but.” There are more ... [click for more]

The Return to a Global Economy

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AFTER TWO WORLD WARS, the Great Depression, and experiments with socialism interrupted the liberal economic order that began in the 19th century, the world economy has now returned to the level of globalization that it previously enjoyed. By the 1970s, trade as a share of world economic output had already reached its pre–World War I height. During the past ... [click for more]

The Fundamental Rights of the European Union: Individual Rights or Welfare-State Privileges? Part 2

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Part 1 | Part 2 IN NOVEMBER 1934, during the dark years of growing tyranny throughout Europe, British historian Ramsey Muir penned a short article that appeared in the pages of the journal The Nineteenth Century and After. His theme was “civilization and liberty.” He asked how it was that of all the civilizations around the world, only the ... [click for more]

Market Liberalism, International Order, and World Peace, Part 2

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Part 1 | Part 2 In 1952 ,free-market economist Michael A. Heilperin delivered a lecture entitled “An Economist’s Views on International Organization.” He told his audience, It is an elementary, but often forgotten, knowledge that policies of national governments have always been the principle obstacle to economic relations between people living in various countries, and that whenever these relations ... [click for more]

Market Liberalism, International Order, and World Peace, Part 1

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Part 1 | Part 2 In this Post–Cold War epoch the world is desperately searching for international order, global peace, and general economic prosperity. The great debate going on around the world is whether these desired goals can be attained through the existing system of national sovereignty or whether they require the establishment of international political organizations with the ... [click for more]

Abolish NHTSA

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Purely for the sake of discussion, let’s assume the worst about Firestone and Ford: that someone’s gross negligence led to the production of tires that endangered drivers of Ford Explorers. The common law tort process should be allowed to take its course. If there’s evidence of ... [click for more]

Is Mexico Asking the Right Questions?

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In order to solve a problem, it is necessary to ask the right questions. During his recent visit to Washington, Mexican President-elect Vicente Fox asked the wrong questions: "How can we narrow the gap in income on both sides of the border?" and "How can we put together a fund for development?" The ... [click for more]

No One Is Qualified to be President

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The Democrats' chief argument against George W. Bush is that he's not qualified to be president. They're right He's not qualified. But neither is Al Gore. Or Dick Cheney. Or Joseph Lieberman. No one is qualified to be president. No one. This is not a statement born of cynicism. It's cold fact. How ... [click for more]

Gored, Not Gouged

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Vice President Al Gore has an annoying habit. When he doesn't like the price of something, he sanctimoniously condemns the particular industry that produces it. He's lately accused both the oil industry and the pharmaceutical industry of "price gouging," which after "risky scheme" is becoming his favorite sound-bite phrase. [click for more]
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