Free Society and Commerce

An interesting read this week about commerce and how it plays an important element in society.

The founders of the post-war economic order had the foresight to recognise that economic co-operation must be central to achieve a lasting peace. This is perhaps most clearly encapsulated in the words of President Roosevelt to the Bretton Woods conference in 1944. He reflected that “Commerce is the life blood of a free society.” He also urged that “we must see to it that the arteries which carry that blood stream are not clogged again, as they have been in the past, by artificial barriers created through senseless economic rivalries”. From this imperative, were built the three pillars of the post-war international economic order: the International Monetary Fund; the International Bank for Reconstruction and Development (the World Bank) and the multilateral trading system embodied in the GATT.

It’s interesting how quickly that is changing when the connected world changes commerce in a very globalized environment. Your “freedom” is tied to how the world changes the way it do business. In a few years, we are going to view that a lot differently.

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