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
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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)
““It looks as if
Some pallid thing had squashed its features flat
And its eyes shut with overeagerness
To see what people found so interesting
In one another, and had gone to sleep
Of its own stupid lack of understanding,
Or broken its white neck of mushroom stuff
Short off, and died against the windowpane.””
—Robert Frost (1874–1963)
“And anyone is free to condemn me to death
If he leaves it to nature to carry out the sentence.
I shall will to the common stock of air my breath
And pay a death tax of fairly polite repentance.”
—Robert Frost (1874–1963)
“The glory of the farmer is that, in the division of labors, it is his part to create. All trade rests at last on his primitive activity.”
—Ralph Waldo Emerson (1803–1882)