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Full Description
Fair Trade constitutes a social-business initiative that plays a crucial role in the transition towards a "sustainable market economy", countering the major challenges of the 21st century. This research monograph reveals the mechanisms behind this process. It argues that Fair Trade constitutes a new type of market, "a Dispersed Hybrid Market (DHM)", that due to its specific features contributes to a more pro-social functioning of the entire market and taking responsibility for sustainable development by different market participants. It demonstrates, thus, what was underestimated about Fair Trade, and which is extremely important, that it can have a positive impact on the market in terms of sustainable transformation. The book is intended for researchers, lecturers, students, practitioners, and political decision-makers interested in sustainable development, Fair Trade, and transition towards sustainable markets, business, and economy. It contributes to better understanding of sustainability challenges explaining specifics of Fair Trade market, revealing paradoxes and barriers of its development and showing mechanisms of its spillover effects. It also develops arguments about the need to change the role of the state in the face of global challenges and to support such grassroots international initiatives as Fair Trade. Therefore the practical recommendations address both the desired directions of development of the self-governance of this initiative and the expected role of the state towards it, in particular possible ways to strengthen it.
Contents
Introduction 1. Fair Trade as a unique phenomenon in the global economy 2. Concepts of the market in economic theory 3. Fair Trade market in the light of the economic concept of the market 4. Fair Trade market in the light of the social concept of the market 5. Fair Trade market in the light of institutional economics and Ostrom's concept of 'governing the commons' 6. The rationale and method of the empirical research 7. Findings. Specifics of Fair Trade market and its consequences 8. Conclusions and discussion Summary and closing conclusions
