The worldwide trend towards privatisation, liberalisation and globalisation has produced substantial economic benefits. Nevertheless, liberalisation has had its shortcomings and there are potential threats to further progress, including in particular and anti-liberalisation backlash.
Continuing progress depends on the ability to articulate a clear vision of the positive effects of global liberalisation and to establish policies that can help realise that vision. Reversing globalisation would harm the world's poorest inhabitants.
Professor Calomiris, well known for his work on national and international financial markets, examines the successes and failures of recent reforms and derives a 'globalist manifesto' for public policy. His paper is a revised version of the tenth annual IEA Hayek Memorial Lecture given in July 2001.
2002, Occasional Paper 124, ISBN 0 255 36525 X, 73pp, PB
Half a Cheer for Fair Trade by Philip Booth and Linda Whetstone.