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by lifeisstillgood 4749 days ago
What on earth does that mean?

* An absolutely unregulated market?

* No International standards guaranteed or enforced? Then screws bought in one country wont keep panels in another held together.

* As in kidnap, murder and extortion not enforced? This is my pet reply for "too much red tape". everything is a trade related regulation.

* As in no tariffs between countries. That's not a bad idea, but a flat tariff to ensure fair salaries of border staff would help.

* As in suddenly those countries that are not democracies also fix all the internal problems that are not technical tariffs but act like them Well, let me rephrase that "What if every country became democracy tomorrow?"

* As in you can work in any country you like? 70% of all western jobs are office based, and so 70% of all jobs are probably doable from any point on the globe with a IP connection. And that needs no regulatory changes except in countries where democracy does not apply.

Since the first round of WTO agreements in '48/49 World trade levels have leapt through the roof. Lets just keep going on the WTO rounds as they are.

1 comments

In this hypothetical situation, why is democracy a necessary precondition for a free market?