Rethinking International Trade


Book Description

Over the past decade, a small group of economists has challenged traditional wisdom about international trade. Rethinking International Trade provides a coherent account of this research program and traces the key steps in an exciting new trade theory that offers, among other possibilities, new arguments against free trade. Over the past decade a small group of economists has challenged traditional wisdom about international trade. Rethinking International Trade provides a coherent account of this research program and traces the key steps in an exciting new trade theory that offers, among other possibilities, new arguments against free trade. Krugman's introduction is a valuable guide to research that has delved anew into the causes of international trade and reopened basic questions about the international pattern of specialization, the effects of protectionism, and what constitutes an optimal trade policy. In the four sections that follow, he takes a revisionary look at the causes of international trade, and discusses growth and the role of history, technological change and trade, and strategic trade policy.




Trade and Industrial Development in Africa


Book Description

This book revisits the perennial challenge that scholars, economists, and politicians have been grappling with since the 1960s. Development, in this book, has been defined in a context that projects it as a multidimensional and complex process which seeks to enhance the human, social, economic and cultural welfare of the people. This book calls for a rethinking of trade and industry for Africa's development. It uses data drawn from national development plans and strategies, and trade and industry issues have been prioritized at the continental level, in key policy documents. On the whole Africa's industry and trade performance have been poor in spite of national, regional, and continental plans. The contributors to this volume propose some alternative strategies and policies which are necessary for trade and industry to grow and to contribute to the well-being of Africa's people. It calls for a developmental trade and industry policy which, fundamentally, must be people-centred. African states should invest time, energy and resources to develop policies which will take into consideration African realities.The different contributors are aware that Africa has experienced strong economic growth in the recent past but this growth has largely been due to a strong demand for Africa's primary commodity exports. It has also been a result of increases in productivity and domestic investment and remittances from Africans living in the Diaspora. It is important to note that despite this unprecedented growth performance, the impact of trade and industry on development has been limited. The book argues that a structural transformation of Africa's economies is inevitable if Africa is to achieve the shift from the dominant paradigm of production and export of primary goods. The various contributors to this book agree that there is need to rethink policy and strategy in order to achieve industrial development in Africa. There is no unique solution or answer that can fit all situations as African countries are not the same. While Africa can draw lessons from other regions which have successfully industrialized, this book argues that policies and strategies will have to be adapted to country-specific situations and circumstances.




Rethinking, Repackaging, and Rescuing World Trade Law in the Post-Pandemic Era


Book Description

This book explores the ways to 'rethink', 'repackage' and 'rescue' world trade law in the post-COVID-19 era. Using the COVID-19 pandemic as an important context, the book makes original and critical contributions to the growing debate over a range of emerging challenges and systemic issues that might change the landscape of world trade law in the years to come. The book asks: do these unprecedented times and challenges call for reengineering the world trading system and a further retreat from trade liberalisation? The authors offer a rigorous and insightful analysis of whether and how the existing trade institutions and/or rules, including their latest developments, may provide room to deal with pandemic-induced trade-related issues, sustainable development goals, future crises and other existential threats to the multilateral trading system. The book reinforces the importance of international cooperation and the pressing need to reinvigorate the world trading system. The pandemic has provided a unique opportunity for governments to rebuild the political will needed for such cooperation. One should never let a serious crisis go to waste.




Rethinking the Global Trading System


Book Description

With the global economy slowing, global trade negotiations currently not making sufficient progress, and the emergence of a risk of increased protectionism, the need to demonstrate the importance of trade and the positive contribution it can make to positive economic growth and global welfare has never been more pressing. Given the fundamental changes under way in the global economy, however, progress on trade will require a strategy that looks beyond the Doha Round -- one that rethinks the ends and means of trade policy in a more globalized world economy. This conference had three main objectives: 1. assessing what changes in the structure of international trade and development mean for the conduct of trade policy in globally integrated markets 2.) exploring how trade policy and the trading system can best contribute to addressing the broader challenges the global community confronts, specifically to a reduction in global poverty and a response to global warming and 3.) determining the appropriate role for the WTO and the trade regime in the light of the growing debate over reforming the international economic architecture.




Rethinking Capitalism


Book Description

"Thought provoking and fresh - this book challenges how we think about economics.” Gillian Tett, Financial Times For further information about recent publicity events and media coverage for Rethinking Capitalism please visit http://marianamazzucato.com/rethinking-capitalism/ Western capitalism is in crisis. For decades investment has been falling, living standards have stagnated or declined, and inequality has risen dramatically. Economic policy has neither reformed the financial system nor restored stable growth. Climate change meanwhile poses increasing risks to future prosperity. In this book some of the world’s leading economists propose new ways of thinking about capitalism. In clear and compelling prose, each chapter shows how today’s deep economic problems reflect the inadequacies of orthodox economic theory and the failure of policies informed by it. The chapters examine a range of contemporary economic issues, including fiscal and monetary policy, financial markets and business behaviour, inequality and privatisation, and innovation and environmental change. The authors set out alternative economic approaches which better explain how capitalism works, why it often doesn’t, and how it can be made more innovative, inclusive and sustainable. Outlining a series of far-reaching policy reforms, Rethinking Capitalism offers a powerful challenge to mainstream economic debate, and new ideas to transform it.




Agricultural Commercialization, Economic Development, and Nutrition


Book Description

Subsistence production: a sign of market failure. Commercialization cannot be left to the market. Household effects of commercialization. Nutrition effects of commercialization. Policy action needed.




Rethinking Food Systems


Book Description

Taking as a starting point that hunger results from social exclusion and distributional inequities and that lasting, sustainable and just solutions are to be found in changing the structures that underlie our food systems, this book examines how law shapes global food systems and their ongoing transformations. Using detailed case studies, historical mapping and legal analysis, the contributors show how various actors (farmers, civil society groups, government officials, international bodies) use or could use different legal tools (legislative, jurisprudential, norm-setting) on various scales (local, national, regional, global) to achieve structural changes in food systems. Section 1, Institutionalizing New Approaches, explores the possibility of institutionalizing social change through two alternative visions for change – the right to food and food sovereignty. Individual chapters discuss Vía Campesina’s struggle to implement food sovereignty principles into international trade law, and present case studies on adopting food sovereignty legislation in Nicaragua and right to food legislation in Uganda. The chapters in Section 2, Regulating for Change, explore the extent to which the regulation of actors can or cannot change incentives and produce transformative results in food systems. They look at the role of the state in regulating its own actions as well as the actions of third parties and analyze various means of regulating land grabs. The final section, Governing for Better Food Systems, discusses the fragmentation of international law and the impacts of this fragmentation on the realization of human rights. These chapters trace the underpinnings of the current global food system, explore the challenges of competing regimes of intellectual property, farmers rights and human rights, and suggest new modes of governance for global and local food systems. The stakes for building better food systems are high. Our current path leaves many behind, destroying the environment and entrenching inequality and systemic poverty. While it is commonly understood that legal structures are at the heart of food systems, the legal academy has yet to make a significant contribution to recent discussions on improving food systems - this book aims to fill that gap.







Food Systems in Africa


Book Description

Rapid population growth, poorly planned urbanization, and evolving agricultural production and distribution practices are changing foodways in African cities and creating challenges: Africans are increasingly facing hunger, undernutrition, and malnutrition. Yet change also creates new opportunities. The food economy currently is the main source of jobs on the continent, promising more employment in the near future in farming, food processing, and food product distribution. These opportunities are undermined, however, by inefficient links among farmers, intermediaries, and consumers, leading to the loss of one-third of all food produced. This volume is an in-depth analysis of food system shortcomings in three West African cities: Abidjan, Côte d’Ivoire; Rabat, Morocco; and Niamey, Niger. Using the lens of geographical economics and sociology, the authors draw on quantitative and qualitative field surveys and case studies to offer insightful analyses of political institutions. They show the importance of “hard†? physical infrastructure, such as transport, storage, and wholesale and retail market facilities. They also describe the “soft†? infrastructure of institutions that facilitate trade, such as interpersonal trust, market information systems, and business climates. The authors find that the vague mandates and limited capacities of national trade and agriculture ministries, regional and urban authorities, neighborhood councils, and market cooperatives often hamper policy interventions. This volume comes to a simple conclusion: international development policy makers and their financial and technical partners have neglected urban markets for far too long, and now is the time to rethink and reinvest in this complex yet crucial subject.




Rethinking Globalization


Book Description

Rethinking Globalization offers an extensive collection of readings and source material on critical global issues.