Pleas for Trade Remain Trendy in the Midst of Globalization
As an economist, I share the belief that, when it comes to realistic alternative systems of social organization, we always choose between the state and the market, between coercion and private property, bureaucratism and entrepreneurship. Thus, depending on the criterion of property rights – the most important, after all –, economic systems can only be either the free market (or the system of private ownership of the means of production), or socialism (or the system of public, state, “non-private” ownership of the means of production), or interventionism (the system in which certain sectors – or certain options for the use/allocation of scarce resources – are managed in the private sector, while others in the public one)[1] More
