Capital controls are measures implemented by governments to regulate flows from capital markets into and out of the country's capital account. One type of Capital control is the exchange controls that prevent or limit the buying and selling of a national currency.

The government will for instance limit the amount of money that a private citizen is allowed to move from that country.

In the bigger picture more and more countries are looking at economic globalization,where restrictions like this limit the possibility of such lofty ideals. Economic globalization refers to the free movement of goods, capital services, technology and information.

I think Bitcoin is the technology that would facilitate the evolution from a country with strict capital controls, to a world where capital are given wings to fly from border to border, without restrictions.

This brings us to the next goal,where globalization increase income and economic growth in developing countries. When there are no restrictions on capital,people can work in any country or operate their business in 3rd world countries without having to worry about capital controls and restrictions.

Governments use Capital controls as a tools to protect jobs in their country. Companies, sometimes having to pay ridiculous wages to people for work that could have been done at a friction of that cost in a third world country.

Bitcoin not only open the door to global markets,it also create jobs for people in a global context. Why do you have to pay high wages, if there are no barriers that would stop you from hiring cheaper labour in other countries and paying them with a currency that can cross borders without restrictions?

We need to create a level playing field fro everyone to compete in a highly competitive global context and to reduce wages for over-priced jobs. Working from home,will now be something very different than usual online jobs,because you will be working in another country for a major company in another country or that company will relocate you for cheaper labour.

Do you think the elimination for Capital controls with the help of borderless technologies,will bring us closer to Economic globalization?