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Essay / Research Paper Abstract
This 10 page paper considers if the concept of free trade is one that will result in fair trade. The paper looks at the model of free trade and the arguments for and against the encouragement of fair trade and how this may be reflected in developing countries through the nominal and real level of wages. The bibliography cites 10 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEfairtrade.rtf
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Unformatted sample text from the term paper:
theory no trading partner will have a preferable trading status to others, and as such all will be equal. For countries that are weak, free trade will enable to them
to better their economies and become developed countries, whereas the developed nations will be spending money that, due to competitive advantages, will benefit the developing countries as well as give
them goods at a good price. In this light free trade appears to be a boon that will benefit all who partake in it. However, free does not always mean
fair, so we have to consider will free trade equal fair trade? To consider is free trade is fair, we first have to consider what we mean by free
trade and of this meets any definitions of fair. Free trade is the idea of trade without barriers and is the basis of many trading regions, such as the EU
and NAFTA. The basis is that of Lassiez faire economics. The term comes from the French meaning to leave alone, and as such we can start to glean the
meaning of the term. In both economics and in politics the meaning of the term is the same, meaning that there should not be any governmental interference (Nellis and Parker,
2000). The basic belief that underlies this paradigm is that there is a natural economic order, and that if the economy is left alone, without interference such as regulation or
artificial stimulation, then there will be a balance reached which will be best for the community as a whole (Nellis and Parker, 2000). Adam Smiths idea of the invisible hand
is also a factor in free trade theories. This was the manifestation of the market forces, which he believed would lead to a situation where all goods would be properly
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