Features of Free Trade
Free trade implies the following features:
- Trade of goods without taxes (including tariffs) or other trade barriers (e.g., quotas on imports or subsidies for producers)
- Trade in services without taxes or other trade barriers
- The absence of "trade-distorting" policies (such as taxes, subsidies, regulations, or laws) that give some firms, households, or factors of production an advantage over others
- Free access to markets
- Free access to market information
- Inability of firms to distort markets through government-imposed monopoly or oligopoly power
Read more about this topic: Free Trade
Famous quotes containing the words features of, features, free and/or trade:
“Each reader discovers for himself that, with respect to the simpler features of nature, succeeding poets have done little else than copy his similes.”
—Henry David Thoreau (1817–1862)
“However much we may differ in the choice of the measures which should guide the administration of the government, there can be but little doubt in the minds of those who are really friendly to the republican features of our system that one of its most important securities consists in the separation of the legislative and executive powers at the same time that each is acknowledged to be supreme, in the will of the people constitutionally expressed.”
—Andrew Jackson (1767–1845)
“We said there warn’t no home like a raft, after all. Other places do seem so cramped up and smothery, but a raft don’t. You feel mighty free and easy and comfortable on a raft.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“My trade and my art is living. He who forbids me to speak about it according to my sense, experience, and practice, let him order the architect to speak of buildings not according to himself but according to his neighbor; according to another man’s knowledge, not according to his own.”
—Michel de Montaigne (1533–1592)