2006 Articles

Social Justice and Global Trade

Stiglitz, Joseph E.

The article focuses on the condition of social justice and the international trading system. The current economic arrangement has caused the poorest countries to get worst while developing countries were forced to open up their markets and eliminate subsidies. Tariff structure has caused the developing countries to move up the value added chain in the transaction. However, trade liberalization has lead to an economic growth that has benefited several countries.