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Fair trade, by this definition, is a trading partnership based on dialogue, transparency and respect, that seeks greater equity in international trade. Fair trade organizations, backed by consumers, support producers, raise awareness and campaign for changes in the rules and practice of conventional international trade. [3]
An investigation into the limits of Fair Trade as a development tool and the risk of clean-washing, HEI Working Papers, vol. 6, Geneva: Economics Section, Graduate Institute of International Studies, October. Mohan, S. (2010), Fair Trade Without the Froth – a dispassionate economic analysis of 'Fair Trade', London: Institute of Economic Affairs.
The Fair Trade Federation does not certify individual products, but instead evaluates an entire business. The FTO Mark, launched in 2004 by World Fair Trade Organization, and identifies registered fair trade organizations. UTZ Certified is a coffee certification program that has sometimes been dubbed "Fairtrade lite". [17]
The increasing trend of fair trade is an example of the impact of ethical marketing. In the Ethical Shoppers Price Index Survey (2009), fair trade was the most popular ethical badge products could have. It also revealed that many consumers distrusted green claims.
Business ethics operates on the premise, for example, that the ethical operation of a private business is possible—those who dispute that premise, such as libertarian socialists (who contend that "business ethics" is an oxymoron) do so by definition outside of the domain of business ethics proper. [citation needed]
WFTO Fair Trade Organization Mark. The World Fair Trade Organization (WFTO) claims to be the global community and verifier of enterprises that fully practice fair trade. [1] It is an association of small and medium sized enterprises (SMEs), farmers or retailers that claim to fully practice the 10 Principles of Fair Trade.
A fair trade law was a statute in any of various states of the United States that permitted manufacturers the right to specify the minimum retail price of a commodity, a practice known as "price maintenance". Such laws first appeared in 1931 during the Great Depression in the state of California. They were ostensibly intended to protect small ...
Importing firms voluntarily adhere to fair trade standards or governments may enforce them through a combination of employment and commercial law. Proposed and practiced fair trade policies vary widely, ranging from the common prohibition of goods made using slave labour to minimum price support schemes such as those for coffee in the 1980s.