Fair Trade for All: How Trade Can Promote Development

Oxford University Press
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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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About 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. 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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Additional Information

Publisher
Oxford University Press
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Published on
Aug 1, 2007
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Pages
352
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ISBN
9780199887002
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Best For
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Language
English
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Genres
Business & Economics / Development / Economic Development
Business & Economics / Economics / General
Business & Economics / Economics / Microeconomics
Business & Economics / International / Economics
Political Science / Political Ideologies / General
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Content Protection
This content is DRM protected.
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Eligible for Family Library

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This annual conference is a global gathering of the world s leading scholars and practitioners. Among the attendees are participants from developing countries, think tanks, NGOs, and international institutions. These papers concern: Trade and economic performance: does Africa s fragmentation matter?; Protectionist Policies and Manufacturing Trade Flows in Africa; Criss-Crossing Globalization: The Phenomenon of Uphill Skills flows; The Aid-Migration Trade off; Are Remittances More Effective than Aid to Improve Child Health? An Empirical Assessment Using Inter- and Intra-country data; Role of Emigration and Emigrant Networks in Labor Market Decision of non-Migrants; the Role of Higher Education in High-tech Industry Development: A Review of International Experience; Higher Education and Industry: What Linkages in Africa; An Arrested Virtuous Circle?; Higher Education and High-tech Industry in India; Health and socio-economic status: Isolating causal pathways; The Household Impacts of Treating HIV/AIDS in Developing Countries; First Things First: Infectious Disease, Child Mortality and the poor in India 1992-2005; What Makes Growth Shared?; On the Political Economy of Inclusive Development; Characterizing Conflict Forms; Public Goods Provision in South Asia. Introduction by Justin Yifu Lin and Boris Pleskovic. Opening addresses by Trevor Manuel, Justin Yifu Lin, and Thabo Mbeki. Keynote addresses by Michael Spence, Bassma Kodmani, and Sunil Kant Munjal. Papers by Paul Collier and Anthony J. Venables; Lawrence Edwards; Aaditya Mattoo and Arvind Subramanian; Jean-Paul Azam and Ruxanda Berlinschi; Lisa Chauvet, Flore Gubert, and Sandrine Mespl -Somps; Jinu Koola and aglar zden; Sachi Hatakenaka; Akilagpa Sawyerr and Boubakar Barry; Rakesh Basant and Partha Mukhopadhyay; Duncan Thomas; Markus Goldstein, Joshua Graff Zivin, and Harsha Thirumurthy; Francisco Rodr guez; and Lakshmi Iyer. Comments by Beata Smarzynska Javorcik, Melvin D. Ayogu, Jean-Luc Demonsant, Erik Sander, Shahid Yusuf, Pankaj Chandra, T. Paul Schultz, John Strauss, and Ashutosh Varshney. Closing remarks by Alan Gelb and Fundi Tshazibana.
There is growing consensus in the literature that trade and trade policy matter for a pro-poor growth and development strategy. Therefore, policies that are consistent with this strategy feature increasingly in many African countries where poverty is endemic and rapid and where sustainable economic growth is viewed as the major vehicle for poverty reduction. Key elements of these polices include measures that promote the expansion and diversification of production and trade in Africa. This book is aimed at articulating appropriate structural and policy measures for eliminating the constraints that African countries face and thus ensuring that they can derive maximum benefits from all available market access opportunities.

There is evidence that most African countries face external market access barriers in their major export destinations which are generally less constraining than those confronting countries in other developing country regions. Yet, they have generally not been able to take full advantage of the special (preferential) market access opportunities available to them. This suggests that improved external market access, whether reciprocal or preferential, would not, by itself, be sufficient for strengthening African export performance. In this collection, export supply response capacity takes external (beyond-the-border) factors as given and concentrates primarily on the internal (behind-the-border) factors that influence production and distribution costs and, thus, competitiveness.

The central working hypothesis of this book is that the inability of domestic producers and exporters in Africa to respond quickly, effectively and efficiently to external market access opportunities is caused by various limitations of their internal supply capacity and that this, in turn, is largely responsible for the lacklustre export performance of many African countries. This comprehensive study should be of interest to students and researchers of international trade and development economics as well as African studies.

“Ideas of economic democracy are very much in the air, as they should be, with increasing urgency in the midst of today’s serious crises. Richard Wolff’s constructive and innovative ideas suggest new and promising foundations for much more authentic democracy and sustainable and equitable development, ideas that can be implemented directly and carried forward. A very valuable contribution in troubled times.”—Noam Chomsky

"Probably America's most prominent Marxist economist."—The New York Times

Capitalism as a system has spawned deepening economic crisis alongside its bought-and-paid-for political establishment. Neither serves the needs of our society. Whether it is secure, well-paid, and meaningful jobs or a sustainable relationship with the natural environment that we depend on, our society is not delivering the results people need and deserve.

One key cause for this intolerable state of affairs is the lack of genuine democracy in our economy as well as in our politics. The solution requires the institution of genuine economic democracy, starting with workers managing their own workplaces, as the basis for a genuine political democracy.

Here Richard D. Wolff lays out a hopeful and concrete vision of how to make that possible, addressing the many people who have concluded economic inequality and politics as usual can no longer be tolerated and are looking for a concrete program of action.

Richard D. Wolff is professor of Economics emeritus at the University of Massachusetts, Amherst. He is currently a visiting professor at the New School University in New York. Wolff is the author of many books, including Capitalism Hits the Fan: The Global Economic Meltdown and What to Do About It. He hosts the weekly hour-long radio program Economic Update on WBAI (Pacifica Radio) and writes regularly for The Guardian, Truthout.org, and the MRZine.


Witnessing at first-hand the failure of the Copenhagen Climate Conference and wondering what went wrong, Andrew Charlton realised the truth of a colleague's words: "The world is split between those who want to save the planet and those who want to save themselves." In this groundbreaking essay, Charlton discusses the rift that will shape our future: progress versus planet; rich versus poor. In recent times environmentalists have argued with mounting force that the growth of human activity on our planet is unsustainable. We are, they claim, on a collision course with destiny. But, the developing world counters, environmental threats, dire as they may be, are not the only challenges we face. Indeed, these can seem a distant danger compared to the daily tragedies of life in slums and villages. Across the globe, economists and environmentalists vie over who has the right response to climate change, population growth and food scarcity. In Australia, this battle has plunged our politics into one of its most tumultuous periods. In Man-Made World Charlton evaluates some of the proposed solutions -renewable and nuclear energy, organic and genetically modified food - and argues that our descendants will only thank us if we find a way to preserve both the natural world and human progress. "Progress has its price. Each step of human advancement has left a footprint on the planet. Today our two defining challenges are managing climate change and eliminating global poverty. In Copenhagen we learned that these challenges are inseparable." -Andrew Charlton, Man-Made World About the Author: Andrew Charlton was senior economic adviser to the prime minister from 2008 to 2010. During that time he served as Australia's senior official to the G20 summits and the prime minister's representative to the Copenhagen Climate Conference. He previously worked for the London School of Economics, the United Nations and the Boston Consulting Group and received his doctorate in economics from Oxford University, where he studied as a Rhodes Scholar. He is the author of Ozonomics (2007) and Fair Trade for All (2005), co-written with Nobel laureate Joseph Stiglitz. This edition of Quarterly Essay also includes a piece by one of Australia's leading writers, Richard Flanagan, entitled The Australian Disease: On the decline of love and the rise of non-freedom.
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