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Trade is the lifeblood of the global economy, but few would consider it a social good. Instead, our views on trade have polarized between two extremes: 'free trade' ideologues who regard trade as an end in itself, and 'protectionists' who view it as a destructive force to be contained. But there is another way to trade – one with the interests of people, not profit, at its heart.In this visionary work Christian Felber, founder of the Economy for the Common Good movement, offers a dazzling new paradigm for the global trading order. Confronting the 'free trade religion' which has reigned since Adam Smith, Felber champions an alternative approach in which trade serves the wider interests of society, incorporating the key issues of our time: human rights, climate change, and the growing divide richer and poorer countries. He proposes the groundbreaking idea of an 'Ethical Trade Zone', founded on a principled approach to tariffs and trade policies, and built with international cooperation on trade, taxation and labour.Penetrating and passionate, Christian Felber shows how this brave new economic world can be built democratically from the grassroots up, and how trading for good can be made a reality.
Christian Felber's new book on global trade, published in German in 2017, has only now been translated into English. I don't believe that a more important book on trade has ever been written.His demolition of Ricardo and neoclassical economics' support for 'free' trade is superb. 'Free' trade is not 'free'. It is selfish trade, imposed on weaker nations by the stronger.But what's most important is that Christian has gone ten steps beyond a critique. His proposal is for a UN Ethical Trade Zone in which human rights, labour standards and environmental and climate protection are supported through graded tariffs, enabling trade to flourish among nations which adhere to ethical and environmental standards, and nations which choose to act as rogues to be steadily frozen out of trade's many advantages.Christian Felber is a strong believer in the rewards of trade - but he wants trade for a purpose greater than more profit. Hew wants trade to build a better world. When he was told that his proposals would not be out of place in North Korea, he asked his students at Vienna University for their take:28% were opposed to free trade44% were opposed to protectionism0% were opposed to ethical tradeIt's not an easy read, since Felber has really done his homework on economics, trade, and global trade organizations, and it really shows. As an aspiring economist, I am really impressed.
