You may have heard that free, globalised trade enables each country to focus on the products that it does best at making, that is, the products with which it has a comparative advantage. The international competition to achieve a comparative trade advantage results in a ‘race to the bottom’ of reduced human rights, environmental damage, and disregarded moral values. How can we fix this?
Countries commonly achieve that comparative advantage by lowering their standards in several areas of values, such as: working conditions, pollution control, environmental care, animal welfare, and sufficient taxation.
How can we correct this circumstance to stop the continual global erosion of standards and values, standards and values that we know to be morally, philosophically, and practically important? We could develop a values-based trade agreement that would help us to improve the quality of lives across all of Earth, and protect our environment.
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