Free world trade needs a clear political and eco-social framework if it is not to have ruinous effects. Global regulation calls for democratized global institutions based on checks and balances, among them a global parliament. In the long run, this is the only way to protect freedom and its preconditions which are under threat today intertemporally and across national borders. For this it will also be necessary to achieve a serious - and not only bogus - democratization of the world's nation-states.