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)
“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)
“Louise Bryant: I’m sorry if you don’t believe in mutual independence and free love and respect.
Eugene O’Neill: Don’t give me a lot of parlor socialism that you learned in the village. If you were mine, I wouldn’t share you with anybody or anything. It would be just you and me. You’d be at the center of it all. You know it would feel a lot more like love than being left alone with your work.”
—Warren Beatty (b. 1937)
“Experience has shown that the trade of the East is the key to national wealth and influence.”
—Chester A. Arthur (1829–1886)