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Fair Trade for All: How Trade Can Promote Development

Fair Trade for All: How Trade Can Promote Development. By Joseph Stiglitz and Andrew Charlton. New York: Oxford University Press, 2006. 312 pp. $30.00, ISBN: 0-19-929090-3.

"The treatment is excellent; but the patients keep dying." This is one way to look at the push towards freer trade in the developing world that accelerated during the Uruguay Round of GATT (which concluded in 1994). Theoretically, rapid reductions in tariff barriers should exploit comparative advantage and quickly raise living standards in the South. Yet, freer trade has produced uneven results. A small group of developing nations got most of the benefits; and while incomes have risen somewhat, inequality has risen much ...

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