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coverThe Wealth of Nations, by Adam Smith is by the founding father of economics. Chosen by the Conservative Bookstore as one of the top ten conservative works, it gives us the basic principles of how goods and services are distributed in a free society.



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Free Trade Zone Summit Held

QUEBEC/CMNN - Agreeing to create a free-trade zone throughout Western Hemisphere by 2005, 34 American nations concluded their conference on 22 April in Quebec City.

Recognizing the link between free-trade and free peoples, The Western leaders also agreed to penalties for any country that moves toward totalitarianism.

The trade pact will create a zone where protectionist tariffs are not allowed. According to an article at protest.net the agreement will also limit the ability of Western Governments to independently legislate rules on the environment concerning industrial emissions. Other less measured articles against the Free Trade Area of the Americas (FTAA) abound on the internet, mirroring protests in the streets of Quebec.

There were many incidents of violence as well-equipped protesters met well-prepared police trained in riot control. Illustrating the volatility of this issue, more than 400 protesters were arrested; 46 police officers and 57 demonstrators were injured.

The idea for a tariff-free area was first endorsed at earlier summits in 1994 and 1998. But the idea of free trade between nations has far deeper roots and has been an ideological hot-potato in the United States since its founding.

The American Revolution was partially fought over tariffs imposed by England - not only because of the "taxation without representation" issue. But also because goods were required to go through England before they could be shipped to other countries and sometimes before they could even be shipped to other colonies.

Adam Smith, the founding father of modern economics, was a vigorous proponent of free-trade. His thesis, "The Wealth of Nations", ably demonstrated that protectionist policies of Great Britain were keeping his own nation of Scotland in poverty, because it artificially maintained high prices on goods and services that the average Scot could barely afford.

Smith would go on to theorize that free-trade among nations and states would improve the standard of living of the peoples of every nation. His basic rules of economics still apply today.

The free-trade issue continues to be a divisive one for conservatives. Many conservatives view free-trade as important for the continued free flow of ideas and in maintaining democratic governments. Others see the imposition of free-trade zones as an erosion of sovereignty of nation states.