Free vs Fair Trade

Research Paper # 58234

Free vs Fair Trade

An assessment of the claim that the best prospects for economic development in the 'global south' lie in the liberalisation of world trade.

5,263 words () | 25 sources | MLA | 2005 United Kingdom

Paper Summary:

This paper discusses trade liberalisation and its alternatives in relation to global development, particularly in the third world. It deals with both the theoretical nature of the free market, as well as its failings in the real world.

Outline
Development and Dependency
Modern Anti-Liberalism
Alternatives to Trade Liberalisation
Conclusions

From the Paper:

"To fully understand the concept of trade liberalisation, it is first necessary to understand its alternatives - protectionism and interventionism. Protectionism is defined as 'the actions of a government to help its country's trade or industry by taxing goods bought from other countries' (Cambridge Dictionary, 2004). The theories behind this concept are ancient and allow for domestic industries to thrive where foreign products act as a threat. It also allows for taxes to be raised and the importation of undesirable goods to be restricted. Interventionism, as well as including the use of protection tariffs, is the more complex system of intervening in industry - for example, setting quotas, and import and export restrictions."