Inhaltszusammenfassung

There is little dispute that the present state of our global economy is wanting. As a remedy, liberal economics suggests the economic policy of free trade. The paper examines and questions three main arguments in favour of free trade and points out four of its major systematic shortcomings: its lacking protection of infant industries, its failure to block harmful externalities, its missing mitigation of unemployment, and its unfair distribution of the fruits of global economic cooperation. A...There is little dispute that the present state of our global economy is wanting. As a remedy, liberal economics suggests the economic policy of free trade. The paper examines and questions three main arguments in favour of free trade and points out four of its major systematic shortcomings: its lacking protection of infant industries, its failure to block harmful externalities, its missing mitigation of unemployment, and its unfair distribution of the fruits of global economic cooperation. A remedy of the faults of our global economy requires fair and functioning political-economic institutions, which have to support and ensure a fair distribution of the benefits and burdens of global economic cooperation. With respect to the former, a fair distribution of fruits of global cooperation, the paper suggests an economic reciprocity demand: everyone who contributes to the global division of labour should derive a fair return from it. The paper finishes with a glimpse on basic institutional strategies.» weiterlesen» einklappen

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Klassifikation

DFG Fachgebiet:
Philosophie

DDC Sachgruppe:
Philosophie