Group Essay 3 - Andrew Oliveira Art Nevis Ryan Stensaker...

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Andrew Oliveira Art Nevis Ryan Stensaker Lisa Vaccarella (Typist) Sakinah Ahmad (Typist) Fair Trade: The Path to Freedom When it comes to the issue of trade and how free it should be, ideas can often be very controversial and conflicting. There are three main different approaches to trade, liberalism, Marxism and mercantilism. Out of the three, liberalism with restrictions seems to be the most efficient approach through the theory of fair trade, which Donald Snow defines as “support and expansion through trade, but the belief there should be exclusions or limitation on the extent and degree of trade promotion.”(Snow 2007: 126). Fair trade can best be enforced by an organization similar to the World Trade Organization, but with changes that implement more reciprocity and further development of underdeveloped states. Mercantilism is negative when applied by Western nations because its nationalistic protectionist tendencies lead to the exploitation of poorer Southern states. Mercantilism, or protectionism in the modern sense, is a helpful tool for development of nascent domestic industries. This was displayed by the rise of Europe after the period of the Middle Ages and led to the development of Britain as the hegemon of world trade. Mercantilism, mainly implemented by the rise of the nation-state, was succinctly economics applied by political means. The protectionist barriers of trade were positive in the history of Europe’s development because they allowed domestic industries to be cultivated without interference and competition from outside nations. However, mercantilism when applied by already developed and wealthy states has a positive effect for those nations, but an extremely detrimental effect on the poorer nations which need outside markets to develop their domestic industries. Therefore, mercantilist policies of Western states adversely effect the economic improvement goal of globalization.
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Marxism has positive attributes that can contribute to a fair trade theory of economics however it is ultimately unrealistic. In contrast to free trade theory Robert Gilpin points out that
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This essay was uploaded on 04/03/2008 for the course POLISCI 102 taught by Professor Field during the Spring '08 term at Rutgers.

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Group Essay 3 - Andrew Oliveira Art Nevis Ryan Stensaker...

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