Fair Trade for All: How Trade Can Promote Development

Overview


Winner of the Nobel Prize in Economics and author of the New York Times bestselling book Globalization and Its Discontents, Joseph E. Stiglitz here joins with fellow economist Andrew Charlton to offer a challenging and controversial argument about how globalization can actually help Third World countries to develop and prosper.
In Fair Trade For All, Stiglitz and Charlton address one of the key issues facing world leaders today--how can the poorer countries of the world be ...
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Fair Trade for All: How Trade Can Promote Development

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Overview


Winner of the Nobel Prize in Economics and author of the New York Times bestselling book Globalization and Its Discontents, Joseph E. Stiglitz here joins with fellow economist Andrew Charlton to offer a challenging and controversial argument about how globalization can actually help Third World countries to develop and prosper.
In Fair Trade For All, Stiglitz and Charlton address one of the key issues facing world leaders today--how can the poorer countries of the world be helped to help themselves through freer, fairer trade? To answer this question, the authors put forward a radical and realistic new model for managing trading relationships between the richest and the poorest countries. Their approach is designed to open up markets in the interests of all nations and not just the most powerful economies, to ensure that trade promotes development, and to minimize the costs of adjustments. The book illuminates the reforms and principles upon which a successful settlement must be based.
Vividly written, highly topical, and packed with insightful analyses, Fair Trade For All offers a radical new solution to the problems of world trade. It is a must read for anyone interested in globalization and development in the Third World.
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Product Details

  • ISBN-13: 9780199290901
  • Publisher: Oxford University Press, USA
  • Publication date: 1/5/2006
  • Series: Initiative for Policy Dialogue Series C
  • Pages: 344
  • Product dimensions: 9.30 (w) x 6.20 (h) x 1.00 (d)

Meet the Author

Joseph E. Stiglitz is University Professor at Columbia University and Co-founder and Executive Director of the Initiative for Policy Dialogue. A winner of the Nobel Prize in Economics in 2001, he was a member of the Council of Economic Advisers from 1993-95, during the Clinton administration, and served as CEA chairman from 1995-97. He then became Chief Economist and Senior Vice-President of the World Bank from 1997-2000. He is the author of many books, including the international bestseller Globalization and Its Discontents, which has been translated into 28 languages.
Andrew Charlton is a Research Fellow at the London School of Economics. He has taught at Oxford University and been a consultant for the Initiative for Policy Dialogue, The United Nations Development Program and the Organization for Economic Co-operation and Development.

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Table of Contents

Foreword Acknowledgements
1. Introduction: The Story So Far
2. Trade Can Be Good for Development
3. The Need for a Development Round
4. What Has Doha Achieved?
5. Founding Principles: The Basis for a Fair Agreement
6. Special Treatment for Developing Countries
7. Priorities for a Development Round
8. How to Open Up Markets
9. Priorities Beyond The Border
10. What Should Not Be On the Agenda
11. Joining the Trading System
12. Institutional Reforms
13. Trade Liberalization and the Costs of Adjustment Appendix 1: Empirical Review of Market Access Issues Appendix 2: Empirical Review of the Singapore Issues

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Sort by: Showing 1 Customer Reviews
  • Posted June 26, 2009

    I Also Recommend:

    Flawed, idealistic proposals for fairer trade

    Joseph Stiglitz, the Nobel Prize-winning economist, and Andrew Charlton, a Research Officer at the London School of Economics, argue for an international trade regime designed to support countries' national interests, especially the interests of the poorest countries.

    They show how previous trade agreements have harmed the poorer countries. The OECD forecast that they would gain $90 billion a year from the Uruguay agreement, but in fact the 48 poorest countries lose $600 million a year from it.

    The OECD countries' tariffs on imports from developing countries are still four times those on imports from the OECD countries. Stiglitz and Charlton warn, "Prescriptive multilateral agreements must not be allowed to run roughshod over national strategies to deal with idiosyncratic development problems."

    Stiglitz and Charlton propose instead a model for managing trade between the richest and the poorest countries in the interests of all, to ensure that trade serves development. They point out that the poorest countries need social safety nets, retraining programmes, technical aid and development banks. As they note, "To date, not one successful developing country has pursued a purely free market approach to development." The richer countries all used industrial policies to develop.

    Nor is free trade the answer. As they write, "the issue facing most countries is not a binary choice of autarky (no trade) or free trade, but rather a choice among a spectrum of trade regimes with varying degrees of liberalisation." Latin America's open capital markets not its relatively closed trade policy caused its 1990s crash. "Latin America's reliance on foreign capital flows and foreign direct investment . made it particularly vulnerable to global economic shocks."

    Latin America's countries have now created the Bolivarian Alternative for the Americas (ALBA), independent of the USA, the IMF and the World Bank, based on the principles of respect for national sovereignty and solidarity.

    The US and EU states will never sign a fair international trade agreement because they are driven by the furies of private profit not by principles of social justice.

    1 out of 1 people found this review helpful.

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