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Coffee, Clothes, and a Conundrum: Poverty and Free and Fair Trade

Coffee, Clothes, and a Conundrum: Poverty and Free and Fair Trade. By Olivia Natan, Amanda Lordemann, Leslie Hamachi, Sarah Rempel, Daniel Khalessi, and Benjie Smith. What is the best way to address International Poverty?. Poverty: The inability to provide for one’s basic needs and comforts

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Coffee, Clothes, and a Conundrum: Poverty and Free and Fair Trade

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  1. Coffee, Clothes, and a Conundrum:Poverty and Free and Fair Trade By Olivia Natan, Amanda Lordemann, Leslie Hamachi, Sarah Rempel, Daniel Khalessi, and Benjie Smith

  2. What is the best way to address International Poverty?

  3. Poverty: The inability to provide for one’s basic needs and comforts • Trade: Exchange of goods or services • Tariff: A tax instated by a country on imports • [Economic] Globalization: The integration of national economies into the international economy

  4. Free Trade • Free Trade, aka Trade Liberalization, aka Lassiez-Faire Capitalism, is a macroeconomic policy that promotes multilateral tariff reduction and the removal of limits on foreign investments.

  5. Free Trade

  6. Fair Trade • Fair Trade is where consumers pay a premium on products to support the welfare of the producers. • The goal is to create a just and sustainable economic system by setting price floors on certain products from developing nations. • Fair Trade Organizations designate and certify producers to receive Fair Trade status.

  7. Fair Trade

  8. Protectionism • Protectionism describes economic policy enacted by a nation to protect domestic industry. • Includes tariff escalation and the implementation of restrictive quotas on imports.

  9. Protectionism

  10. If a = b, and b = c, then a = c. • We have just talked about how free and fair trade can affect the economy as a whole. • It is a generally accepted truth that the economy affects poverty. • Consequently free and fair trade policies affect poverty.

  11. How can these policies, which shape macroeconomic trends, affect poverty? • An unhealthy national economy can increase unemployment and thereby decrease average income and standard of living. • A healthy national economy can increase job creation and increase standard of living, but it can also increase the gap between the rich and the poor.

  12. Group Discussion • What is the best way to reduce poverty around the globe? • Are the pitfalls of free trade avoidable? • Is fair trade idealistic in that it relies on the goodwill of the consumer? • Are protectionist policies an efficient and reasonable method of revitalizing domestic industry? • Which of these policies, free or fair trade, creates a healthy national economy?

  13. The Economic Spectrum What is the best way to address global poverty?

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