Andrew Charlton, with the help of
Joseph Stiglitz, wrote “Fair Trade for All”, a book that presented many arguments
for fair trade policies to be enacted on a global scale. In the book, Andrew
Charlton and his co-author revealed many truths about the realities of unfair
trade practices, as described in a write-up about the book, which was published
in the New York Times in 2006:
“Stiglitz and Charlton show that
standard economic assumptions are wrong when it comes to many developing
economies. When markets in sub-Saharan Africa and elsewhere are opened, people
often can't move easily to new industries where the nation has a comparative
advantage. Transportation systems that might get them there are often
primitive, housing is inadequate and job training is scarce.
They're vulnerable
in the meantime because safety nets are weak or nonexistent. Most people lack
access to credit or insurance because financial institutions are frail, so
they're unable to start their own businesses or otherwise take advantage of new
opportunities that trade might bring. Many poor countries are already plagued
by high unemployment, and job losses in the newly traded sector might just add
to it.
Hence, the authors argue, the
pace at which poorer nations open their markets to trade should coincide with
the development of new institutions — roads, schools, banks and the like — that
make such transitions easier and generate real opportunities.
Since many poor
nations can't afford the investments required to build these institutions, rich
nations have a responsibility to help.”
Visit https://vimeo.com/andrewcharlton for more information.
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