. . . only really works in the labor market we are told, since it is completely inoperative everywhere else!!!!!
And taken a bit further, with a bit more modern historical research, NAFTA was about the same thing: new regs allowing for foreign ownership of Mexican banks (within one year of the passage of NAFTA, or signing by Mexico, 90% of their banks became foreign owned), when then favor Big Agra, which speedily moves in to take over the agriculture industry, while payouts go to Mexican politicians favoring the privatizing of those farmlands occupied by Mexican subsistance farmers, who are then forced off their lands, and thus journey north to America, to continue the downward trend on wages at the lower levels, etc., etc., etc.