Fair Trade for All

How Trade Can Promote Development

Joseph E. Stiglitz and Andrew Charlton

How can the poorer countries of the world be helped to help themselves through freer, fairer trade? In this challenging and controversial book, Nobel prize-winning economist Joseph E. Stiglitz and his co-author Andrew Charlton put forward a radical new solution to the problems of world trade, a solution that restores balance to the trading relationships between the richest and the poorest countries. Vividly written, highly topical, and packed with insightful analyses, Fair Trade For All is a must read for anyone interested in globalization and development in the Third World.

Fair Trade for All

How Trade Can Promote Development

Joseph E. Stiglitz and Andrew Charlton

Description

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.

Fair Trade for All

How Trade Can Promote Development

Joseph E. Stiglitz and Andrew Charlton

Foreword
Acknowledgements
1. Introduction: The Story So Far
2. Trade Can Be Good for Development
3. The Need for a Development Round
4. What Has Doha Achieved?
5. Founding Principles: The Basis for a Fair Agreement
6. Special Treatment for Developing Countries
7. Priorities for a Development Round
8. How to Open Up Markets
9. Priorities Beyond The Border
10. What Should Not Be On the Agenda
11. Joining the Trading System
12. Institutional Reforms
13. Trade Liberalization and the Costs of Adjustment
Appendix 1: Empirical Review of Market Access Issues
Appendix 2: Empirical Review of the Singapore Issues

Fair Trade for All

How Trade Can Promote Development

Joseph E. Stiglitz and Andrew Charlton

Author Information

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.

Fair Trade for All

How Trade Can Promote Development

Joseph E. Stiglitz and Andrew Charlton

Reviews and Awards

"Provocative.... Stiglitz and Charlton show that standard economic assumptions are wrong when it comes to many developing economies.... Stiglitz is worth listening to.... The authors argue that the pace at which poorer nations open their markets to trade should coincide with the development of new institutions--roads, schools, banks and the like--that make such transitions easier and generate real opportunities. Since many poor nations can't afford the investments required to build these institutions, rich nations have a responsibility to help."--Robert B. Reich, The New York Times Book Review

"We are stuck with a global economic system that doesn't work for half the world. Stiglitz and Charlton propose a plan to embrace the other half, to move to a future of shared benefits and shared responsibilities." --President Bill Clinton

"Nobel Laureate Joseph Stiglitz and co-author Andrew Charlton offer us an insightful and challenging new study on how to make the world trading system truly supportive of international development. Professor Stiglitz's leadership in the globalization debate reflects his remarkable combination of scholarly excellence, extensive political experience, and deep commitment to social justice. This powerful combination shines through in this accessible and timely new book."--Jeffrey D. Sachs, author of The End of Poverty, Director of the UN Millennium Project, and Director of the Earth Institute at Columbia University

"The best case made yet for trade's development potential...a must read--and must do--if the Doha Round is going to become developmental."--José Antonio Ocampo, Under-Secretary-General for Economic and Social Affairs of the United Nations

"This is a really important book. We all want to fix the WTO. But different groups of developing countries--and developed countries too--have radically different ideas about what that means. Fair Trade For All shows how to fix the WTO, in these difficult circumstances, in a way which is also fair." --David Vines, Professor of Economics at Oxford University and the Australian National University, Canberra

"It is almost certain that the Doha Development Round will fail to live up to its name. Trade negotiators should turn to this book for bold new ideas on how to make the global trade regime work for developing countries." --Dani Rodrik, Harvard University

"The debate on trade and development has often been dominated by simplistic rhetoric, either overselling the benefits of trade liberalisation or demonising it. The authors of Fair Trade for All provide a well-written and balanced account of how to maximise the benefits of trade for development and avoid the pitfalls. For those with keen interest in the debates on the Development Agenda for trade, this should be a required reading."--Dr. Supachai Pantichpakdi, Secretary-General of UNCTAD

"This is an interesting read and I welcome the overall message that liberalisation is beneficial provided it is properly done in the interests of the poor. This is a valuable contribution to the debate."--The Rt Hon Hilary Benn MP, Secretary of State for International Development