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Three Images of Trade: On the Place of Trade in a Theory of Global Justice

Author

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  • Risse, Mathias

    (Harvard University)

  • Wollner, Gabriel

    (London School of Economics and Political Science)

Abstract

Economic theory teaches us that it is in every country's own best interest to engage in trade. Trade therefore is a voluntary activity among consenting parties. On this view, considerations of justice have little bearing on trade, and political philosophers concerned with matters of global justice should stay largely silent on trade. According to a very different view that has recently gained some prominence, international trade can only occur before the background of an existing international market reliance practice that is shaped by states. On this view, trade is a shared activity among states, and all participating states have in principle equal claims to the gains from trade. Trade then becomes a central topic for political philosophers concerned with global justice. The authors find fault with both of those views and argue instead for a third view about the role of a trade in a theory of global justice. That view gives pride of place to a (non-Marxian) notion of exploitation, which is developed here in some detail.

Suggested Citation

  • 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.
    • Handle: RePEc:ecl:harjfk:rwp14-011
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    References listed on IDEAS

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    1. Coldwell Daniel, 1990. "Pure Neoclassical Exploitation and the Level of Wages," American Journal of Economics and Sociology, Wiley Blackwell, vol. 49(1), pages 21-34, January.
    2. Risse, Mathias, 2012. "A Précis of On Global Justice, With Emphasis on Implications for International Institutions," Scholarly Articles 9767978, Harvard Kennedy School of Government.
    3. James, Aaron, 2013. "Fairness in Practice: A Social Contract for a Global Economy," OUP Catalogue, Oxford University Press, number 9780199344567.
    4. James, Aaron, 2012. "Fairness in Practice: A Social Contract for a Global Economy," OUP Catalogue, Oxford University Press, number 9780199846153.
    5. Satz, Debra, 2010. "Why Some Things Should Not Be for Sale: The Moral Limits of Markets," OUP Catalogue, Oxford University Press, number 9780195311594.
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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. Häußermann, Johann Jakob, 2017. "Fairness in International Trade Policy: Equality and Differential Treatment in Theory and Practice," EconStor Preprints 170695, ZBW - Leibniz Information Centre for Economics.
    3. Marco Meyer, 2021. "Dealing fairly with trade imbalances in monetary unions," Politics, Philosophy & Economics, , vol. 20(1), pages 45-66, February.

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