ABSTRACT
After briefly arguing that the functional conditions of the market order hold when cross-border transactions occur (9.1), this chapter discusses the resulting implications for trade policy (9.2). It will be demonstrated that efficiency considerations are an argument in favour of free trade, although they do not constitute a justification thereof; this will be illustrated in the discussion on the impact of free trade on international competition (9.3). Finally, we discuss briefly how efficiency gains that result from free trade are distributed among the economies involved (9.4).
