Critics charge that the world is suffering from an excess of "market fundamentalism." To which this market fundamentalist can only reply: what planet are they living on? According to the 2000 Economic Freedom of the World report, state-owned enterprises continue to operate across a broad range of sectors in 74 countries with 67 percent of the world's population. Price controls remain widespread in 54 countries with 39 percent of the world's population. In 40 countries with 57 percent of the world's people, state-owned banks still hold a clear majority of total deposits. The dead hand of the collectivist past retains all too tight a grip on economic life.
UPDATE: My hunch that the WTO is irrelevant may not be so off-base. Marginal Revolution points to some research that may support my view.
For Discussion. Does "globalization" mean something different from free trade? Are there legitimate arguments for or against one but not the other?