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Fair trade Essay Topics & Paper Examples

Compare and contrast shadow economies with Fair Trade

A shadow economy is defined as an underground economy or black market. In this market, applicable taxes are not paid and trade regulations are not adhered to. According to the World Bank, which also refers to the shadow economy as a gray economy, this type of economy is characterized by business activities not accounted for by official statistics. By and large, this kind of economy is inclusive of illegal activities such as drug or arms trade. However, though shadow markets largely involve illegal activities they may sometimes involve legal activities that are unreported or underreported for purposes of evading tax (gray economy, 2004). On the other hand, fair trade refers to a system of exchange that honors producers, communities, the…

Fair trade

Fair trade is a social movement which is well organized; it adopts an approach that is market based. This social movement aims at assisting producers in the nations that are developing and also promoting the sustainability of such producers. Fair trade advocates for fair pricing of as well as environmental and social standards in regions related to production of goods and services of a wide variety. Its main focus is the exports of various products from the countries that are developing to the nations that are already developed. The most favoured exports include coffee, handicrafts, tea, sugar cocoa, honey, bananas, wine, cotton, fresh fruits, flowers and chocolate (DeCarlo, 2007). The fair trade social movement The strategic intention of fair trade…