This hands-off stance is referred to as “laissez-faire trade” or trade liberalization. Governments with free-trade policies or agreements in place don't necessarily abandon all control of ...

Trade liberalization is seen to promote economic efficiency, international competitiveness, and an expansion of trade, perhaps especially in imperfectly competitive markets. 1 Yet despite this ...

Although there is a broad consensus today among policymakers on the economic costs of delaying trade liberalization, several countries—including many with socialist-type ideologies—are still clinging ...