How can anyone take free trade seriously? Clearly no one in any
government or the global corporate world does. The parts of the world economy
that are able to compete internationally are primarily the state-subsidized
ones: resource extraction, capital-intensive agriculture, high-tech industry,
weapons, etc. The irony is that research and development is paid for with
taxes, while anything marketable is taken over by the private sector. This
combination of public subsidy and private profit is called free enterprise. It’s
a sad state of affairs when the best investment advice urges oil futures, and
shares in weapons manufacturers and privatized water. But that’s where the
smart money seems to be going.
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