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)
“All visible objects, man, are but as pasteboard masks. But in each event—in the living act, the undoubted deed—there, some unknown but still reasoning thing puts forth the mouldings of its features from behind the unreasoning mask. If man will strike, strike through the mask!”
—Herman Melville (1819–1891)
“Who are we? And for what are we going to fight? Are we the titled slaves of George the Third? The military conscripts of Napoleon the Great? Or the frozen peasants of the Russian Czar? No—we are the free born sons of America; the citizens of the only republic now existing in the world; and the only people on earth who possess rights, liberties, and property which they dare call their own.”
—Andrew Jackson (1767–1845)
“I am cozily ensconced in the balcony of my face
Looking out over the whole darn countryside, a beacon of satisfaction
I am. I’ll not trade places with a king. Here I am then, continuing but ever beginning
My perennial voyage....”
—John Ashbery (b. 1927)