Can the Free Market Work without Virtue?

Abstract

Libertarianism has become one of the most influential movements of the last twenty years. Its political effects can be seen as the driving force behind many in the ranks of the Republican-controlled Congress. This article is a presentation and critical examination of the founding principles of Libertarianism. It argues that much is valid in free-market ideas, especially at the microeconomic level. However, Libertarianism overstates the case for rational actors, understates the necessity for government action to maintain security, misunderstands the complexity of human behavior, neglects the need to foster civil associations, and ignores the natural proclivity of people to be virtuous independent of self-interest.     

A Free Trade Area of the Americas in 2005?

In the second presidential summit of the Americas, which took place in April 1998 in Santiago de Chile, 34 heads of states of the Americas announced that they were ready to start negotiating a Free Trade Area of the Americas (FTAA), to be concluded by 2005. This article briefly discusses the current trend in favour of regional preferential trade agreements, describes how the proposal for an FTAA came about, explores more than three years of negotiations that made it possible and assesses the probability of its success.     

The ASEAN‐China Free Trade Area: genesis and implications

The Asia‐Pacific region's vulnerabilities to the consequences of globalisation were vividly revealed by its financial crisis in 1997–98. ASEAN states considered the US and APEC less than helpful during the crisis, and they found the conditionalities imposed by the IMF unpalatable. But ASEAN as a regional organisation has been much weakened, and it has been working hard to revive its influence. The ‘ASEAN plus 3’ approach has been perceived as an important means to strengthen ASEAN's status and relevance. The ASEAN‐China Free Trade Area is undoubtedly an outstanding achievement of this approach; but ASEAN has been trying to keep its options open. On the other hand, China has been concerned with the danger of a deterioration in Sino‐American relations and the increasing distrust between Tokyo and Beijing. Improvement of China‐ASEAN relations therefore assumes increasing significance in China's regional policy; and enhancing mutual interests and interdependence is the best way to erode the ASEAN states' perception of the ‘China threat’. But China must not neglect the interests of Japan and South Korea or underestimate ASEAN's resistance to the exclusion of the US and its desire to maintain a balance of power in the region. The ASEAN‐China Free Trade Area, hopefully, should also facilitate the narrowing of the gap between the more developed and the developing ASEAN members, as well as that between the more prosperous coastal provinces and the poor interior provinces in China. In many ways, the establishment of the ASEAN‐China Free Trade Area represents a challenge to what can be achieved in the mutual engagement process.     

Iran's Free Trade Zones: Back Doors to the International Economy?

Since the late 1980s, Iran has pursued a policy of attracting foreign investment and fostering regional trade by granting favored status to the so-called “Free Trade-Industrial Zones” (FTZs) and “Special Economic Zones” (SEZs). To date six FTZs and sixteen SEZs have been set up throughout Iran. The FTZs are strategically positioned for their potential international links and have their eyes on markets beyond Iran, and the SEZs for their value in serving main industries and for improving the country's distribution system and supply network. This paper examines the experience of these zones in Iran in the context of Iran's contradictory and ambivalent approach to international economic integration in general. It is shown that liberal policies pursued in the free zones have been in marked contrast to the approach in the mainland, which has been generally inward-looking in much of the post-revolutionary period. We examine first the rise of free zones as a global phenomenon followed by an overview of Iran's zones and their characteristics. It is argued that serving mainly as “back doors” to the international economy, Iran's free zones have stalled mainly because their promotion has been decoupled from, if not at odds with, official attitudes to the international economy at large. As a result, the zones' ability to attract investment has been limited by both adverse external perceptions of Iran as an investment destination and internal complexities discouraging such investment.     

Free and Fair? Rhodesians Reflect on the Elections of 1979 and 1980

The elections of April 1979 and February 1980 were the first in Rhodesia/Zimbabwe's history to permit universal adult suffrage, allowing for black majority rule. In the first election, Bishop Abel Muzorewa's United African National Council (UANC) won an overwhelming victory, while in the second, British-supervised election, Muzorewa's party was soundly defeated and Robert Mugabe's Zimbabwe African National Union-Patriotic Front (ZANU-PF) won over 60% of the vote. By interviewing present and former white Rhodesians, located via Facebook and the print magazine Rhodesians Worldwide, who were witnesses to these two critical elections, this study aims to shed light on which of them was more representative of the will of the people of Zimbabwe, at least in the eyes of the country's white minority.     

Chile's Export Diversification since 1960: A Free Market Miracle or Mirage?

Conventional wisdom has proclaimed Chile's recent economic development a ‘free market miracle’. In an examination of Chile's export diversification experience, this article departs from that view. By analysing the dynamics underlying the emergence of the salmon, fruit, forestry and wine sectors in Chile's export basket since the 1960s, the study sheds light on the crucial role of industrial policy in the process of capability accumulation that shapes new industries. The article undertakes a qualitative historical analysis of the scope and nature of policy interventions in each of the four sectors and conducts a quantitative policy evaluation using the difference‐in‐difference method. It finds that public institutions are essential in overcoming market failures inhibiting the emergence of new industries. Specifically, it shows that the government has a key role to play as a catalyst of human capital accumulation, as a venture capitalist, in trade promotion, and in ensuring ‘national’ sector reputation through a strong regulatory and quality control role. By elaborating on the dynamic process of structural transformation and capability accumulation, this article contributes to theoretical debates on the role of vertical policies in the emergence of new competitive sectors, and debates relating to static versus dynamic approaches to comparative advantage.     

The Free Negro Company of Christiansted: Struggles for equality, 1773–1799

This article examines the so-called Free Negro Company in the town of Christiansted on the island of St. Croix in the Danish-Norwegian West Indies in the latter part of the 18th century. It examines the range of practices and social strategies developed by these men to obtain recognition as free subjects and position themselves in the social space of a racially divided Caribbean society.

The article shows that well before the more well-known instances of coordinated collective action in the beginning of the 19th century, the men of the Free Negro Company developed and applied a variety of social strategies. They challenged the social order that defined their place in society; challenges that took place in physical encounters with Euro-Caribbeans both in the streets and in courtrooms. These free Afro-Caribbean men continuously attempted to expand their space of action, and to emphasize to Euro-Caribbeans that they were free citizens and should be treated as equals. They challenged the distinctions created by the Euro-Caribbeans whilst at the same time setting themselves apart from the enslaved population.

The article focuses on the period prior to the first British occupation of the Danish-Norwegian West Indies in 1801, in order to look for signs of opposition to the social order and attempts to achieve a better position in society. The article investigates the militia-like Free Negro Company from the first instance of its members tentatively challenging the racialized social order in 1773 until 1799, when the last mention of a similar case is found in the archival material examined. The Free Negro Company held a central position in the society, and an examination hereof provides the opportunity to get closer to the free Afro-Caribbeans, as individuals and as a group. The role and function of the Company in Danish-Norwegian West Indian society meant that its members came into regular contact with both Euro-Caribbeans and enslaved labourers, and that they often found themselves in situations marked by conflict.     

Sexual crime in the Irish Free State 1922–33: its nature,extent and reporting

This paper explores sexual crime in the Irish Free State through the utilisation of hitherto unexamined files held in the National Archives in Dublin. An exploration of these files has provided a deepening understanding of the realities of sexual crime, societal attitudes towards it and the views of those charged with protecting the public. The files also provide valuable insights into attitudes towards female sexuality, the nation's youth and the rights of children. Additionally, the files have facilitated the widest study, to date, of the reporting of sexual offences trials by local and national newspapers – a study that shows that the overwhelming majority of sexual crime prosecutions were never reported in the nation's press and that those that were, were reported in ways that obscured the actual nature of the offence or portrayed them as alien, non-Irish crimes committed by outsiders. The article demonstrates that sexual crime in the Free State was an ideological as well as a law enforcement issue in a newly emerging state sensitive to the views of its enemies and the outside world and insecure about its place in it, a nation that legitimised itself, in no small part, as a beacon of Celtic Catholic purity in a world otherwise sullied by sin.     

Partners for stability? Irish Free State perceptions of the incoming British Labour government 1923–24

This article examines the anxiety and frustration of the Irish Free State government faced with the uncertainty of which party was going to become the next British government in 1923–24. The Free State government had only recently emerged victorious in its own fratricidal civil war and its moral and political legitimacy was still challenged in Ireland itself. The most contentious issue an incoming British government had to deal with on Ireland was the final demarcation of the boundary between the Irish Free State and Northern Ireland which, according to Article 12 of the Anglo-Irish Treaty, would be determined by a boundary commission. The Free State government remained unconvinced that any incoming British Labour government had the competence, understanding or commitment to resolve this issue and contribute to long-term stability in Ireland, given Labour's perceived lack of knowledge and interest in Irish politics and its commitment to social and economic issues taking precedence. This apprehension was articulated in contemporary Irish government papers and personal correspondence and proved well founded, given the legalistic and cautious approach of the Labour government to establishing the Irish Boundary Commission.     

Free Trade Empire to Commonwealth of Nations: India,Britain and Imperial Preference, 1903–1932

This article examines the dialogue between British tariff reformers and Indian nationalists over the application of imperial trade preference in India from Joseph Chamberlain's 1903 Birmingham address to the 1932 Imperial Economic Conference. For both groups, this issue was a focal point to assess India's constitutional status and national participation within an emerging British Commonwealth and international system after the First World War. Specifically, it marked a comprehensive challenge to the orthodoxy of free trade and liberal empire seen increasingly as a determent to reconciling national prosperity and imperial unity. It is argued that prominent tariff reformers’ well-studied criticism of an ‘unpatriotic’ cosmopolitan free trade made them also sympathetic to longstanding Indian grievances that this fiscal policy exacerbated economic exploitation and racial discrimination. After 1919, Indian nationalists, including ‘historical economists’, utilized metropolitan advocacy for imperial preference to demand fiscal and political autonomy from Britain and national, as well as racial, equality in collective imperial decision. At the 1932 conference in Ottawa, India's voluntary and negotiated acceptance of preferential trade with Britain, beside the white self-governing Dominions, helped transform the British Commonwealth into an egalitarian organization recognizable after 1947.     

‘Women—Keep Australia Free!’: Women Voters and Activists in the 1951 Referendum Campaign

Abstract

This article considers three aspects of the women's vote and activism during the 1951 referendum campaign. First, it is argued that the appeal to women was conducted in terms of the democratic right to freedom of expression and protest especially as it connected to domestic issues. Second, women's engagement in this campaign has been overlooked, but was influential, diverse and prominent, as evidenced by the involvement of activists such as Millicent Preston Stanley and Margot Mahood. Finally, the campaign directed at the woman voter points to the increasing appeal by the major parties to women as independent voters.     

A Test of Ideal Free Distribution Predictions Using Targeted Survey and Excavation on California’s Northern Channel Islands

Using targeted survey, excavation, and radiocarbon dating, we assess the extent to which human settlement patterns on California’s northern Channel Islands fit predictions arising from the ideal free distribution (IFD): (1) people first established and expanded permanent settlements in the regions ranked high for environmental resource suitability; (2) as population grew, they settled in progressively lower ranked habitats; and (3) changes in the archaeological record associated with high population levels such as increases in faunal diversity and evenness in high-ranked habitats are coincident with the expansion to other areas. On Santa Rosa Island, the early permanent settlements were located in both high- and middle-ranked locations, with the most extensive settlement at the highest ranked locations and only isolated sites elsewhere. Settlement at a low-ranked habitat was confined to the late Holocene (after 3600 cal BP). Drought influenced the relative rank of different locations, which is an example of climate adding a temporal dimension to the model that episodically stimulated population movement and habitat abandonment. Because the IFD includes a wide range of cultural and environmental variables, it has the potential to be a central model for guiding archaeological analysis and targeted field research.     

How Far Could Free Religious Thinking Go? The Case of Johann Rudolf Werdmüller,Zurich 1658

In 1658, Johann(es) Rudolf Werdmüller, a renowned Zurich general and diplomat, was accused of blasphemy. As it referred to essential religious matters, the accusation had a considerable public impact. The court files of the case provide evidence of wider battles over the desirability and nature of religious tolerance. Instead of narrating a case story this analysis suggests a different approach to the history of religion. The sources are not taken as documents expressing a discursive system of philosophical points of view and their appearance in religious polemics. Rather, the court files stand for specific speech acts, i.e. verbal performances in the linguistic sense. Thus, Werdmüller's example is taken to demonstrate that those considered to be blasphemers in the era of confessionalisation did not simply express religious scepticism in the form of “discourses,” nor did they rebel against authority figures or resort to forms of magic. Rather, they provoked their society, discussed religious matters, entertained their audience and competed wittingly with those interested in religious issues. In conclusion, it is proposed that the history of religion should not be confined to a history of ideas and religious doctrines but should integrate linguistic approaches.     

‘Masters in Their Own House’: Britain,the Dominions and the 1946 Ex-Service Free Passage Scheme

The dominant narrative of post-1945 British migration is that of the ‘ten pound poms’: British civilians who availed themselves of the system of subsidised migration and emigrated to Australia for the bargain price of £10, with the rest of the cost of passage being split between the British and Australian governments. It is little wonder that historians have tended to focus on this scheme, as between 1947 and 1972 around one million Britons used it to resettle in Australia.¹1. Constantine, ‘Waving Goodbye?’, 193. However, concealed within huge movement of people is a much smaller, but nonetheless important, migrant stream: the free passage scheme, a program which was open to veterans of the British forces and the Merchant Navy, under which almost 50,000 people settled in Australia. It operated only between 1946 and 1955 and was designed as a part of the package of benefits offered to all British veterans of the Second World War. The research on which this article is based, which was funded by the Scottish Centre for Diaspora Studies at the University of Edinburgh and headed up by Professor Sir Tom Devine, aimed to investigate the background and implementation of the 1946 free passage agreement. The project revealed significant differences between the 1946 scheme and its post-First World War equivalent. The British government's attitude towards the concept of empire migration had shifted from support to reluctance, as post-1945 planners worried about a shrinking British population and potential economic competition from the dominions. At the same time, the dominions were determined to prioritise their own reconstruction programmes, rather than assist Britain in resettling its veterans. Only Australia agreed to take British ex-service personnel, but as part of a much wider immigration plan designed to boost the Australia population and economy.     

Grain Markets,Free Trade and the Bourbon Reforms: The Real Pragmática of 1765 in New Spain

The Real Pragmática of 1765 of Free Grain Trade was one of the most influential events in eighteenth century Spanish political and economic history? But was it influential in the Americas? Despite the abundant scholarship on the Bourbon reforms, we do not know much about the application of the Pragmática or more broadly about policies that affected domestic grain trade in the Americas. In this article I argue that the Pragmática was influential in increasing the participation of the viceroy in matters of wholesale and regional grain trade. Such changes in policies as applied in New Spain involved both pragmatism and a centralization of power, rather than a dogmatic support for free trade policies or a staunch support of traditional doctrines. In this I believe that New Spain did not differ from contemporary Western European countries, in which free trade was constantly being negotiated between different actors and authorities of various levels.