Free Movement of Labour and Capital

Abstract

Ever since 1914 the world has been suffering from restrictions imposed on the movement of labour and capital across national frontiers. Even before the First World War there were in some countries certain restrictions on the emigration or immigration of labour, but they were negligible compared with the inter-war and post-war restrictions. As for capital it was allowed to move freely almost everywhere. It is no wonder the pre-1914 era is looked upon with nostalgia, having regard to the difficulties which have to be faced in our days in almost every country in respect of the inward or outward movements of labour and capital.