Fairness in Practice: A Social Contract for a Global Economy

Paperback | September 15, 2013

byAaron James

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If the global economy seems unfair, how should we understand what a fair global economy would be? What ideas of fairness, if any, apply, and what significance do they have for policy and law?Working within the social contract tradition, this book argues that fairness is best seen as a kind of equity in practice. The global economy as we know it is organized by an international social practice in which countries mutually rely upon common markets. This practice generates sharedresponsibilities of "structural equity," independently of humanitarian, human rights, or other justice concerns, for how benefits and burdens are distributed across different societies and their social classes.Equity in the practice of trade requires not only compensation of people harmed by their exposure to global economic forces, but also equal division of the "gains of trade," across and within societies, unless still greater gains flow to developing countries. Fairness therefore calls for strongsocial insurance schemes, international capital controls, policy flexibility for developing countries, and more - all as the "fair price" of free trade.

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If the global economy seems unfair, how should we understand what a fair global economy would be? What ideas of fairness, if any, apply, and what significance do they have for policy and law?Working within the social contract tradition, this book argues that fairness is best seen as a kind of equity in practice. The global economy as w...

Aaron James is Associate Professor of Philosophy at the University of California, Irvine.

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Format:PaperbackDimensions:382 pages, 9.21 × 6.14 × 0.68 inPublished:September 15, 2013Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199344566

ISBN - 13:9780199344567

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Table of Contents

Preface1. Main IdeasSocial Foundations2. Economic Skepticism3. Hobbesian Skepticism4. The Moral Problem of AssuranceBasic Fairness5. Structural Equity6. The Benchmark of Equality7. Principles of EquityFairness Issues8. Financial Crises9. The Level Playing Field: Intellectual Property10. Degradation, Exploitation, and Other Moral Concerns