In the case of Europe, we benefit from open markets because we need to be able to invest abroad part of the savings that will finance our pensions. The European Union embodies the principle of an open market economy in its Treaties. But to reap the benefits of openness markets need appropriate governance.
BIS Review 85/2010  5  First, as a matter of fact, the average level of executive remuneration has substantially increased 10 in recent years. While this trend is perceived by some stakeholders to be a problem, it is not necessarily evidence of economic inefficiency.