The myth of free trade

1 min read

Countries are not poor because their people are lazy; their people are ‘lazy’ because they are poor

Free trade reduces freedom of choice for poor countries

Keeping foreign companies out may be good for them in the long run

Investing in a company that is going to make a loss for 17 years (Nokia) may be an excellent proposition

Some of the world’s best firms are owned and run by the state

‘Borrowing’ ideas from more productive foreigners is essential for economic development

Low inflation and government prudence may be harmful for economic development

Free market and democracy are not natural partners

December 30, 2015