You have an opportunity to place an important vote but you only have one day to do it!
Change.org has solicited ideas to present to the Obama administration on a variety of subjects. My idea for Fair Trade (my own definition of it) is currently in 1st place and gaining ground, but if you agree with it, it needs your vote.
Here’s where you vote: http://www.change.org/ideas/view/replace_free_trade_with_fair_trade
And here’s why:
My definition of Fair Trade may be a little different from the common one.
To me, trade is fair when nations gain competitive advantage based on quality, productivity, innovation, etc. Trade is not fair when nations gain competitive advantage by despoiling their environments, enslaving their workers, employing child labor, putting workers into unreasonably dangerous or depraved conditions, opting to not have or not enforce safety regulations and consumer protections, etc.
When we have to compete against nations that don’t care about their environment, their children, their workers, their investors, their consumers, etc.; nations that will do anything to gain competitive advantage, we end up in a global race to the bottom… we race every nation in the world to minimize the costs associated with protecting the environment, keeping workers safe and whole, providing living wages, educating people, making sure there isn’t melamine in the milk, etc.
We shouldn’t be wanting that, while we should always still be welcoming competition based on quality, productivity, innovation, efficiency, etc.
To balance things, there should be a global index that allows all nations to be compared to each other on various dimensions and tariffs should be put in place to compensate for cost advantages achieved by “unfair” or predatory competition.
If you think this through, this would maintain incentives to compete with healthy competition and penalize unhealthy competition. Economies that implemented and enforced the best worker protections, environmental protections, investor protections, consumer protections, education systems, healthcare systems, etc. would benefit economically because there would be no tarrifs on their exports and lots of tarrifs on their imports.