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Organizing World Trade
Organizing world trade

Widespread agreement exists that free trade is the best way to organize international trade. This consensus reflects both contemporary and historical conditions. Free trade is central to the operation of today's globalized economy, which requires the unrestricted movement of people, goods, services, money, and ideas across national borders. The absence of free trade and the popularity of state-controlled trade policies are also seen as having contributed to the Great Depression of the 1930s, which produced widespread poverty and suffering among people around the world, and to the rise of fascism. Often overlooked, however, are two important points about free trade. First, free trade is not the only option open to policymakers in constructing their international economic policies. A variety of ...

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