2004 Reports

Common Values for the Development Round

Stiglitz, Joseph E.; Charlton, Andrew H.

In this paper we make a contribution to this debate by considering several fundamental questions: What are the appropriate boundaries for the agenda of the WTO? What would constitute a "fair" agreement? What are the characteristics of a "fair" negotiating process? There are no universal answers to these questions, but there are answers that derive legitimacy from commonly agreed values implemented in a democratic process. This paper presents a set of values with a Rawlsian flavor, which we believe is consistent with the development focus of this round and a concern for social justice. In some cases we make the implications of these principles for the outcome of the negotiations explicit, however in most cases we refer the reader to more detailed discussion in Stiglitz and Charlton (2004). Note: The opinions expressed in these papers represent those of the author(s) and not The Initiative for Policy Dialogue. These papers are unpublished and have not been peer reviewed. Please do not cite without explicit permission from the author(s).