World-wide Free Market Poll

In the Globalization and Corporate Social Responsibility class we have at the Darla Moore School of Business IMBA program, we face a recurrent question: are free markets fair? And are free markets the best system on which to base the future world? Or should governments regulate companies more then they do today?

An interesting insight in this matter is the GlobeScan poll that asked the question whether a majority or plurality of people in different countries agreed with the statement that “the free enterprise system and free market economy is the best system on which to base the future of the world.”






The results are fairly interesting, most countries have responded positively to a free market world, with a surprising positive response from third world countries such as China (74%), the Philippines (73%), India (70%), Indonesia (68%) and Nigeria (66%). France ended with the lowest score, with only 36% of frogs agreeing (and 50% disagreeing) that a free market system would be the best system for the world in the future. The other countries with low scores were Argentina (42% agreeing, 29% disagreeing), Russia (43% agreeing, 34% disagreeing) and Turkey (47% agreeing and 36% disagreeing).


This poll only reinforces my conviction that the population of Europe in general and of France (and Belgium) in particular are not willing to make the sacrifice needed to continue to be important player in the future world. Economically, these countries are not doing well compared to other developed countries (USA in particular) but also compared to developing countries. Since more than 20 years, France and Belgium each totaled only half the economic growth (percent rate of increase in real gross domestic product) of the United States for instance. The percentage in itself is not problematic in itself, what is problematic is that the countries’ leaders and population are unwilling to do anything about it. Germany seems to be on the right track with the Schroeder and Merkel governments implementing changes such as softening labor laws… Something utterly unthinkable in Germany’s francophone neighbors.
In 20 years, it will be countries like Belgium and France that will be clamoring for more handouts from the USA… and China!