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Fairness in Practice: A Social Contract for a Global Economy

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  • James, Aaron

    (University of California, Irvine)

Abstract

If the global economy seems unfair, how should we understand what a fair global economy would be? What ideas of fairness, if any, apply, and what significance do they have for policy and law? Working within the social contract tradition, this book argues that fairness is best seen as a kind of equity in practice. The global economy as we know it is organized by an international social practice in which countries mutually rely upon common markets. This practice generates shared responsibilities of "structural equity," independently of humanitarian, human rights, or other justice concerns, for how benefits and burdens are distributed across different societies and their social classes. Equity in the practice of trade requires not only compensation of people harmed by their exposure to global economic forces, but also equal division of the "gains of trade," across and within societies, unless still greater gains flow to developing countries. Fairness therefore calls for strong social insurance schemes, international capital controls, policy flexibility for developing countries, and more-all as the "fair price" of free trade. Available in OSO: http://www.oxfordscholarship.com/oso/public/content/philosophy/9780199846153/toc.html

Suggested Citation

  • James, Aaron, 2012. "Fairness in Practice: A Social Contract for a Global Economy," OUP Catalogue, Oxford University Press, number 9780199846153.
  • Handle: RePEc:oxp:obooks:9780199846153
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    Cited by:

    1. Häußermann, Johann Jakob, 2017. "Fairness in international trade policy: equality and differential treatment in theory and practice (working paper)," MPRA Paper 82246, University Library of Munich, Germany.
    2. Goff, Sarah C., 2016. "Fair trade: global problems and individual responsibilities," LSE Research Online Documents on Economics 68285, London School of Economics and Political Science, LSE Library.
    3. Risse, Mathias & Wollner, Gabriel, 2014. "Three Images of Trade: On the Place of Trade in a Theory of Global Justice," Working Paper Series rwp14-011, Harvard University, John F. Kennedy School of Government.
    4. Häußermann, Johann Jakob, 2017. "Fairness in International Trade Policy: Equality and Differential Treatment in Theory and Practice," EconStor Preprints 170695, ZBW - German National Library of Economics.

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