Quote:
Originally posted by saru
Switzerland and Singapore, two of the more open and freer economies in the world, have done quite well for themselves thanks to free trade. Both countries would never have become rich without access to neighboring markets (Singapore was nothing but a swampy little island with no natural resources to speak of) and, even today, would suffer greatly if these markets were to close. And, there are earlier historical examples of free trade creating enormous national wealth as well: the whole English empire was built on decades of persistent and forceful international trade expansion...
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England developed through colonialism, Singapore did not, and Switzerland had lots of money in the first place.
And just because the stock market rose, it does not mean all boats rose with the same tide.