Fair Trade

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  • Equitable and humane conditions for production, compensation, and access to goods and services at fair prices. There are three significant components of the theory: (1) fair protection, (2) buying commodities at competitive prices, and (3) avoidance of labor abuse.

    A corollary aspect of fair trade is free trade, which means the removal of unfair restrictions from the free flow of goods across national boundaries. In actual fact, nations are engaged in managed trade, since no nation will permit the unfettered flow of all sorts and conditions of goods across its boundaries. The hallmarks of fairness are the lack of discriminatory trading practices, that is, the extension of “the most favored nation” (MFN) provision to all trading partners and the removal of illegal subsidies to producers to ...

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