Tomorrow, 1 Jan 2005, marks a new era in global trade with critical changes in IPR and multifiber trade. The Independent Institute story gives great hope for the future, a fitting way to celebrate the new year. Bestest to you all for 2005!

“The greatest benefit of free trade is not that it
fosters prosperity — although Adam Smith was
certainly correct when he observed that the
international division of labor contributes
significantly to the wealth of nations. Rather,
it is the tendency of free trade to prevent war,
according to sociologist Erich Weede (University
of Bonn), author of the INDEPENDENT REVIEW
article, “The Diffusion of Prosperity and Peace
by Globalization” (fall 2004).

Numerous studies show that free trade promotes
peace in two ways — by reducing the incentives
to go to war and by promoting prosperity and
democracy, which also contribute to peace. If
these studies were better known, Weede suggests,
many critics of globalization would become
supporters.

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Parth Shah
Parth J. Shah is Founder President of Centre for Civil Society, a think tank that promotes choice and accountability across public and private sectors. Parth’s research and advocacy work focuses on the themes of economic freedom, choice and competition in education, property rights approach to the environment and new public management. He is a member of the education task-force of the governments of Delhi and Karnataka, and serves on the Senate of the Central University of Himachal Pradesh and Tamil Nadu. He recently edited Liberalism in India.