KEEPING FAITH IN THE FREE TRADE SYSTEM

Adam Smith's vision regarding the invisible hand of the market economy has far‐reaching and new meaning in the age of globalization than ever imagined. The free movement of monetary and intellectual capital, and the relative improvement in the movement of labor across the globe, accentuate the importance of economic activities relative to national political border lines. Likewise, economic activities across the globe and the free market system, rather than the nation‐state, have a stronger role in boosting wealth and jobs even in places that are not strictly limited to national borders. Consequently, the fruits of free trade become available for people in areas that until recently were considered outside the world market.