Wed Nov 22 14:01:16 EST 2006
Why don't we abandon the misleading and loaded term "free trade"?
The proper descriptive term I believe is "open trade"--as it should
be "open markets." The central question is really the ease of entry
and exit, or competitiveness. All markets and all trade occur within
a regulatory regime, embracing property rights, contract, liability
(tort), warranty, etc. So neither trade nor markets are ever "free"
in the sense of being conducted in the absent of any underlying
rules, standards, etc. If we would collectively insist on talking
about open trade and open markets, it might elevate the quality of
analysis and discussion.
Fred Carstensen