I always regarded free trade as far more important than all the other ambitious and often counter-productive strategies of global economic policy – for example the policies of 'co-ordinated growth' which led principally to inflation. Free trade provided a means not only for poorer countries to earn foreign currency and increase their peoples' standards of living. It was also a force for peace, freedom and political decentralization: peace, because economic links between nations reinforce mutual understanding with mutual interest; freedom, because trade between individuals bypasses the apparatus of the state and disperses power to customers not planners; political decentralization, because the size of the political unit is not dictated by the size of the market and vice versa. (Margaret Thatcher)

I always regarded free trade as far more important than all the other ambitious and often counter-productive strategies of global economic policy – for example the policies of 'co-ordinated growth' which led principally to inflation. Free trade provided a means not only for poorer countries to earn foreign currency and increase their peoples' standards of living. It was also a force for peace, freedom and political decentralization: peace, because economic links between nations reinforce mutual understanding with mutual interest; freedom, because trade between individuals bypasses the apparatus of the state and disperses power to customers not planners; political decentralization, because the size of the political unit is not dictated by the size of the market and vice versa.

Margaret Thatcher

Related topics

apparatus currency decentralization earn example far force foreign free freedom increase inflation interest led living market peace power reinforce size state trade understanding unit vice means global links peoples

Related quotes