G Men

"You know something, Verna? If I turn my back long enough for Big Ed to put a hole in it, there'd be a hole in it."
--Cody Jarrett (White Heat)

A summit of a group of 20 developed and emerging countries (the so called G20) meet today to discuss global economic concerns and associated policy. There are calls for unity among the G20 in order to collectively solve economic problems that grip the world.

An axiom of international trade and in foreign policy is that countries act in their own best interest. Collective policies that aim to do otherwise are destined to fail over time. This is why cartels are subject to cheating, and why economic blocs such as the European Union are strained.
Complex economic problems cannot be solved by a group of bureaucrats in a room. Instead, individuals making buying and selling decisions in their own best interest will best allocate resources over time.

Countries that value freedom to pursue a higher standard of living are likely to avoid central planning on a global scale.