From free trade to endless printing
of money, tinkering on the fringes will not solve the economic woes,
says Emile Woolf
Everyone knows that the world's economic woes are soluble. Every
leader acknowledges the blessings of free trade, low taxes, sound
money and less regulation. Yet their actions, as ever, speak louder
than words and somehow achieve the precise opposite. Take free trade.
It allows cross-border commercial transactions to take place between
willing traders unimpeded by government-imposed barriers such as quotas,
protective import duties or subsidies. It allows prices to be determined
by the markets and the whole community benefits.
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