Essay On Free Trade Fair
Is free trade fair? Discuss.
Free trade means that anyone can trade with anyone else. The fairness of this trade depends on the amount of competition between buyers and between sellers. Sellers compete with others for customers. As a consumer, you compete with other consumers and drive prices up - regardless of sellers' actions. When there are many buyers and few sellers, the price of product rises; sellers get a bigger share of the gains because they have "market power." With few buyers and many sellers, the price falls; buyers use their market power to get a larger share of the gains. Thus, more market power - whether in the hands of the buyer or the seller - can lead to "unfair" trade, i.e., an asymmetric division of the gains.
When trade
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The little guy (the consumer, the small producer, the poor farmer, the developing country) gets hurt. When nobody has special treatment and the field is truly level, then free and fair will mean the same thing. Competition may be tough on the level playing field, but political power and legal leverage tilt it further. Free trade is fair trade when it is truly free.
Describe the most common ethical issues in international business. What are the ethical dilemmas?
Many of the ethical issues and dilemmas in international business are rooted in the fact that law, political systems, culture and economic development vary significantly from nation to nation. What is considered normal practice in one nation may be considered unethical in others.
Most Common Ethical Issues:
1) Employment practices
Sometimes work conditions in a host nation are clearly inferior to those in a multinational’s home nation. In this case, companies must decide which standards should be applied - standards of the home nation, host nation, or something in
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