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    Fairness in Practice: A Social Contract for a Global Economy

    Fairness in Practice by James, Aaron;

    A Social Contract for a Global Economy

    Series: Oxford Political Philosophy;

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    Product details:

    • Publisher Oxford University Press
    • Date of Publication 24 May 2012

    • ISBN 9780199846153
    • Binding Hardback
    • No. of pages380 pages
    • Size 241x163x31 mm
    • Weight 700 g
    • Language English
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    Short description:

    What would it be for the global economy to be fair? This book argues that "structural equity" in an international practice of market reliance gives rise to significant egalitarian responsibilities. These require robust social insurance, capital controls, policy flexibility for developing countries, and more.

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    Long description:

    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 shared responsibilities 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 strong social insurance schemes, international capital controls, policy flexibility for developing countries, and more-all as the "fair price" of free trade.

    James' book marks a significant achievement and will no doubt set standards in the genre of applied global political philosophy. His normative framework for the global economic order is impressive in scope and ambition with few peers in the current literature.

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    Table of Contents:

    Preface
    1. Main Ideas
    SOCIAL FOUNDATIONS
    2. Economic Skepticism
    3. Hobbesian Skepticism
    4. The Moral Problem of Assurance
    BASIC FAIRNESS
    5. Structural Equity
    6. The Benchmark of Equality
    7. Principles of Equity
    FAIRNESS ISSUES
    8. Financial Crises
    9. The Level Playing Field: Intellectual Property
    10. Degradation, Exploitation, and Other Moral Concerns

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