upstairs market English

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upstairs

over-the-counter market

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But, when it comes to standards - such as those governing safety, health, and the environment - the market-access requirements are brutal and binary: either you meet the established standard or you do not sell.

Free-market thinking evolved from Anglo-Saxon theorists (many from Scotland), who migrated and colonized territories, allowing fortunate individuals to assume that there were no limits to consumption.

The Washington Consensus of free-market reforms for developing countries ended more than two decades ago.

But renewal of this sort cannot be left to global market forces, as the results might not necessarily benefit European agriculture and society.

Not only do these farmers then feed their families, but they also can begin to earn market income and to save for the future.

Even the part that is not government-financed is not a conventional market; most individuals' purchases of prescription medicines are covered by insurance.

IMF accounting frameworks, rather than providing useful signals to the market, provide distorted information that exacerbates a troubled country's problems.

But it is an unfortunate mathematical fact that not everyone can gain market share.

The problem is all the more pressing because countries can achieve gains in market share not only through higher private-sector competitiveness, but also by means of protectionist measures.

Margaret Thatcher worked with Jacques Delors to forge the Single Market in 1986.

Foremost are the four freedoms of the single market; free movement of goods, services, people and capital.

But a single market does not require a single social or industrial policy, far less a common taxation policy.

The purpose of the ECB's measures was to re-establish confidence and bring about a recovery of the inter-bank market.

Such systems cannot work, because they eliminate the capital market as the economic system's main steering mechanism.

Just last December, fellow economists Martin Feldstein and Nouriel Roubini each penned op-eds bravely questioning bullish market sentiment, sensibly pointing out gold's risks.

Second, whereas democracy and market capitalism appeared as clear - if more fragile than expected - winners in 1989, it is difficult in 2009, with the spread of the global crisis, to distinguish winners from losers.

European countries have become so interconnected that isolated national measures on issues like financial-market regulation are hopeless.

At the same time, emerging-market central banks need to accumulate gold reserves, which they still hold in far lower proportion than do rich-country central banks.

The market will prove one side right before too long.

That fall in confidence affected banks, the stock market, and the government and its regulators.