Free Trade/ Fair Trade

Paper Summary:

The paper describes how those that promote free trade claim that overall production and profit is the highest good, and define efficiency and success as the ability to produce great quantities and great profit with a business. Those in support of fair trade, however, point out that productivity itself is not a good, but is only useful inasmuch as it improves the lives of the mass of people. The paper examines whether
countries should be allowed to protect their industries with tariffs or control them with regulations, despite the concerns or desires of other countries.

From the Paper:

"Of these two arguments, Morris' is by far the most convincing, in part because he is far more holistic in his analysis of the situation. Irwin focuses primarily on the over-all financial gains for nations, but does not specify who those gains go to. Though he seems to believe that an overall per capita increase in national product will raise national standards of living, he seldom produces evidence to this effect and does not take into consideration that what may be true for one nation, such as Japan, would not be true for another nation which was emerging from a long history of serious economic depression (such as former colonies). Moreover, he seems to confuse personal well being with the well being of the international money market."

Sample of Sources Used:

• Irwin, Douglas. "The Case for Free Trade: Old Theories, New Evidence." Book title. Publisher: City, Date. 366-373
• Morris, David. "Free Trade: The Great Destroyer." Book title. Publisher: City, Date. 374-382

More papers on Free Trade/ Fair Trade:

• Persuasive Essay # 113203 : "Is Free Trade Fair Trade?"
• Research Paper # 58234 : "Free vs Fair Trade"
• Research Paper # 17060 : "Is Fair Trade Really Fair?"

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