Competition, Coordination and Diversity

Competition, Coordination and Diversity

From the Firm to Economic Integration

New Thinking in Political Economy series

Pascal Salin

Competition, or the freedom to enter into a market, contributes greatly to the differentiation of human activities and therefore to economic progress. This fascinating book highlights the similarities between human systems at both the micro and macro level, and demonstrates how competition can positively affect the economic workings of firms and countries.

Chapter 6: World regulations and harmonization

Pascal Salin

Subjects: economics and finance, austrian economics


It is often considered that the globalization of economic activities should go with a so-called “globalization of policies” or, more precisely, that globalization should need a counter-balancing power in increased worldwide regulations and harmonization of policies. In fact, many people have now accepted trade liberalization on the one hand and deregulation on a national basis on the other hand (in countries where it has occurred). They have noticed that trade liberalization is beneficial, as far as consumers can get a larger choice and lower prices. Meanwhile, the development of internet and of e-business contributes to the acceptance of a worldwide perspective and to the awareness that markets are international.

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