[austinTparty]

Essential to capitalism and trade are effective judicial systems in EACH country which are recognized by the others. This does not equal "global agencies". Who enforces? We do not belong to a World Court. Groups such as the WTO are far different from a government with an enforcement branch. Trade agreements are voluntary--the threat of retaliatory trade sanctions is sufficient for agreement.

With free trade even this would not be an issue.

[PuNcH]

"I had [once] persuaded myself that a nation distant as we are from the contentions of Europe, avoiding all offences to other powers and not over-hasty in resenting offence from them, doing justice to all, faithfully fulfilling the duties of neutrality, performing all offices of amity and administering to their interests by the benefits of our commerce--that such a nation, I say, might expect to live in peace and consider itself merely as a member of the great family of mankind; that in such case it might devote itself to whatever it could best produce, secure of a peaceable exchange of surplus for what could be more advantageously furnished by others, as takes place between one country and another of France. But experience has shown that continued peace depends not merely on our own justice and prudence but on that of others also; that when forced into war, the interception of exchanges which must be made across a wide ocean becomes a powerful weapon in the hands of an enemy domineering over that element, and to the distresses of war adds the want of all those necessaries for which we have permitted ourselves to be dependent on others, even arms and clothing. This fact, therefore, solves the question by reducing it to its ultimate form, whether profit or preservation is the first interest of a State? We are consequently become manufacturers to a degree incredible to those who do not see it and who only consider the short period of time during which we [had] been driven to them by the suicidal policy of England." --Thomas Jefferson

Jefferson was a strict constructionist towards the constitution btw. That might put a little more context on his quotes.

[William Terrell]

It's not raining, you know, that's just water falling out of the sky.

Anything that judges commerce and is able to force a change therein, or sanctions are effectively applied, whether by consent or not, is a global agency enguaged regulating trade. Voluntary consent is the usual way people, businesses and nations become entangled in any enterprise. That's how a world regulatory body polices, through representative common systems "recognized by the others".

Oh, surely, we could withdraw. But there would be. . .sanctions.