Europe or Free Trade?. This essay on globalization takes one of the weirdest perspectives I’ve read for some while. He essentially says that globalization is great but can only work in an environment that doesn’t and cannot exist today.
In the early 20th century, not only goods but people could move freely around the world in a way never seen before or since….Unfortunately power politics was too strong for the doctrine of classical liberalism and free trade to survive, and the second half of the 19th century saw its decline – with Bismarck’s welfare state (much admired by Churchill) and its philosophy of mercantilism and nationalistic self-sufficiency winning the day. In this climate, war is inevitable. Both World Wars were unquestionably economic and trade wars, although they were triggered by different specific events. In particular, after Bismarck, Germany’s National Socialism couldn’t feed its citizens and left only one option – conquer somewhere that could.
and this:
The European Community’s Common Agricultural Policy is an affront to civilisation; its protection of rich Western farmers not only costs consumers billions, it also does its best to ensure that the world’s poorest nations remain that way.
BLOG OF THE DAY. The Mises site has a lot of good essays and one of the more useful blogs out there.
Complete free trade is simplistic. Protection of local farmers in the US and the Eurozone is what keeps these places great. Modern farming techniques are very efficient. There was an African country that had local stores of locally grown food that free traders convinced that country to sell, because it was ‘economically more efficient’. The country then suffered a drought and could not afford to buy foreign foods. The problem was not the high prices on the world market, but the free traders desire to wreck the reserves of a country that suffers periodic drought. Farmers in Africa could afford to produce more food if the price was higher. Similarly, in Afghanistan poppies that produce herion takes over land needed for food because the farmers are paid too little for their crops. These countries are ‘third world’ because they cannot/don’t protect their farmers.
free horoscope…
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