earticle

영어

We need to remind ourselves of the momentous values that should not be taken for granted although we live in a flood of earthly and transitory issues. One of examples is freedom. This motivates us to link the freedom with economy after exploring its philosophical and practical significances in history and contemporary issues. Further, this study pinpoints and measures inter-regime externality for the first time, which is caused by the regime, with the lack of freedom, but with the sizable participation in global value chain. Overlooking suppression of freedom for the reason that it is not in our backyard, would bring a cost reduction in the first place, but would end up with technology theft, illegal immigration, crimes, and harming free democracy in the end. It is dubbed as inter-regime externality by this study. The amount of externality received from the world is mostly found to be significant in explaining economic pains and performances.