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Fair Trade as a Solution for Inequality on the Global Market - Corporate Perspective

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Abstract

New alternatives to free trade are evolving at the global market; their aim is to bring more ethics and morality into the relations between the trading parties (producers, corporations and buyers). This article analyses one of such alternatives i.e. Fair Trade from the perspective of influencing change of corporate politics. Due to the rising awareness of buyers about the origin of goods and the initiatives of forcing corporations into changing their practices based on unethical treatment of workers in the 3rd world countries, alternative ways of trade are becoming part of traditional corporate environment in the free trade chain. By elaborating fundamental principles of certification process, the article gives an answer to the question of creation of added ethical value in the aspect of positioning corporations in the “new economy”.

Suggested Citation

  • Sandra Lovric, 2015. "Fair Trade as a Solution for Inequality on the Global Market - Corporate Perspective," FIP - Journal of Finance and Law, Effectus - University College for Law and Finance, vol. 4(1), pages 75-88.
  • Handle: RePEc:eff:journl:v:4:y:2015:i:1:p:75-88
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    Keywords

    Fair Trade; corporate social responsibility; sustainable development; business ethics;

    JEL classification:

    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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