Summary of Fair Trade

Fair trade in my opinion is ‘equal distribution of wealth’. It results in decentralisation of wealth from the priviledged few to the under priviledged mass. It is an economically set up model where producers and labourers across the world receive the best price for their toil.

It is regulated by the office of the fair trade under the Enterprise Act 2002 and some other organisations, like the Fair Trade Foundation, ISBA and FINE. Fair trade came into existence when most of the multinational corporation turned to venture with the third world countries. According to me, Fair Trade must be based on the notions of fair economy, human rights and free and friendly trade between the nations.

People in the west are putting in a great effort in establishing fair trade in every corner of the world by buying products marked ‘Fair Trade’ on the face of the products. This in turn prevents people from migrating to economically mightier countries which ultimately results in preserving and maintaining the employment opportunities.

However there still arises a very reasonable doubt in the mind of a man of ordinary jurisprudence as to whether ‘fair trade is actually fair’! Jonathan Branco in his article “IS FAIR TRADE FAIR” reflects that the notion of fair trade is yet to establish itself globally and Inter Press Service surveyed and found that it practically fails to make much improvements to the lives of the poor producers.

Even, Alexis Bonari, in her article “Marketing Honesty: Is Fair Trade Really A Fair Deal?” suggested fair trade to be a hoax money minting theory.

Fair trade is still an uncertain concept as its real intentions are still not clear.  To me fair trade is not fair as yet.