Post by RS Davis on Jan 21, 2004 15:59:35 GMT -5
[glow=red,2,300]James A. Dorn Wrote:[/glow]]Economic freedom and limited government under the rule of law are crucial for peace and prosperity in the 21st century. Globalization has helped spread market institutions and foster political reform, as in South Korea and Taiwan. Countries that have cut themselves off from the global economy, such as North Korea, have failed to develop. Critics of globalization have good intentions -- to alleviate poverty and close the gap between rich and poor countries -- but those ends are more likely to be achieved by economic freedom than by government intervention.
Interfering with free trade, dictating massive government-to-government aid programs, imposing burdensome environmental standards, fixing wage rates, and penalizing successful entrepreneurs are not in the long-run interests of poor countries. A policy of engagement is the best strategy to increase living standards, improve the environment, and reduce the risk of war.
China is the foremost example of the positive effects of opening to the outside world and establishing permanent normal trade relations. Trade liberalization has helped China grow the nonstate sector, dramatically increase per capita incomes, and invigorate civil society.
Interfering with free trade, dictating massive government-to-government aid programs, imposing burdensome environmental standards, fixing wage rates, and penalizing successful entrepreneurs are not in the long-run interests of poor countries. A policy of engagement is the best strategy to increase living standards, improve the environment, and reduce the risk of war.
China is the foremost example of the positive effects of opening to the outside world and establishing permanent normal trade relations. Trade liberalization has helped China grow the nonstate sector, dramatically increase per capita incomes, and invigorate civil society.
- Rick
