Gennady Stolyarov II

gennadystolyarovii@yahoo.com

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Globalization: Extending the Market and Human Well-Being

APRIL 01, 2009 by GENNADY STOLYAROV II

Much of the prosperity of today's world arises from the division of labor. Globalization, by extending the market's scope to the entire world, enables the division of labor to become as developed as the current world population allows. However, to be truly in the interests of consumers and a boon to economic prosperity, globalization needs to occur spontaneously through the workings of the unhampered free market. Government attempts to meddle with this process--even with the sincere intent to facilitate or accelerate it--will only undermine its efficacy at benefiting us all.

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It's been 40 years since F. A. Hayek received his Nobel Prize. His insights, particularly on the distribution of knowledge and the impossibility of economic planning, remain hugely important today. In this issue, we look back on the influence of his work. Max Borders and Craig Biddle debate whether liberty must be defended from one absolute foundation, further reflections on Scottish secession, and how technology is already changing our world for the better--including how robots, despite the unease they cause, will only accelerate this process.
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