Internationalization of Services: The Evolutionary Perspective

The internationalization of services is a natural part of the evolutionary development of anopen market economy. This is neither a recent nor passing phenomena, but a developmenttrajectory along which market economies have run for millennia. The internationalization(or globalization) of economic activity was a process that began many thousands of yearsago with the provision of cultural rituals and institutions to facilitate trade in resources andartifacts, a reflection no doubt of Adam Smith’s natural propensity of humans to truck andbarter. Durable trading links required an institutional frame and, in consequence, legal,health, educational, financial and personal services are the oldest parts of the set of framingrules of the game that defines a modern economy....