Global Trade: An Introduction to the History, Theory and Political Issues
The long history of trade is one of intercultural contact, competing theoretical paradigms, and controversy over the place of trade in national economic development strategies. Any theory of trade is necessarily a narrative about competition and the ways that humans have sought to exploit weaknesses in rivals, ameliorate the advantages of competitors and use the rewards gained by trade to realize the ambitions of elites. However, the dominant intellectual tradition that goes back as far as Adam Smith and David Ricardo holds that at least in theory, trade can benefit all parties involved if it is organized on a transparent and equitable basis. Controversies over what constitutes advantage and disadvantage in the governance of trade highlight the challenges that beset the global trading system today. The WTO remains mired in age old problems that arise when the strong bargain with the weak, and new problems that beset a governance system operating within a complex and incomplete system of international law.
England's treasure by forraign trade, or, The ballance of our forraign trade is the rule of our treasure
I Present this ensuing Treatise to your Lordship as its proper Patron, to whom, by vertue of your great Trust (the greatest, doubtless, in this Kingdome) the management of his Majesty's Treasure, and improvement of his Revenue, are most peculiarly committed. The title of it (Englands Treasure by Forraign Trade) alone bespeaks your notice, the Argument, (being of so publick a nature) may invite your perusall but the Tract it self will, I hope, deserve your Lordships Protecton. It was left me in the nature of a Legacy by my Father, for whose sake I cannot but value it as one of my best Moveables, and as such I dedicate it to your Lordship. He was in his time famous amongst Merchants, and well known to most men of business, for his general Experience in Affairs, and notable Insight into Trade; neither was he less observed for his Integrity to his Prince, and Zeal to the Common-wealth: the serious Discourses of such men are commonly not unprofitable. To your Lordships judgement I submit this Treatise, and my presumption herein to your Pardon. My Lord, Your most faithful and obedient Servant, John Mun
Robbing the Poor to Pay the Rich? How the United States keeps medicines from the world’s poorest
Impressive advances in medicine and technology have boosted health and extended life expectancy – but not for everyone. Vital new medicines for diseases such as HIV/AIDS are priced out of reach of the millions of sick people in the developing world, in part due to global patent rules which restrict the availability of affordable generic versions of patented medicines. In 2001, all members of the World Trade Organization adopted the ‘Doha Declaration’, promising to prioritize public health over private patent rights and to promote ‘access to medicines for all’. This paper examines how the government of the United States is contravening this commitment by using technical assistance, bilateral and regional trade agreements, and the threat of trade sanctions to ratchet up patent protection in developing countries. This policy benefits the influential U.S. pharmaceutical industry while pushing medicines further out of the reach of poor people.