Enter your email address to subscribe to this blog and receive notifications of new posts by email. To see our content at its best we recommend upgrading if you wish to continue using IE or using another browser such as Firefox, Safari or Google Chrome. The Institute of Economic Affairs, a think tank, in an in-depth report into Fair Trade said that the scheme "often better reflected the prejudices of western consumers than the needs of poor producers". Fairtrade has been attacked in the past by other free trade proponents, particularly the Adam Smith Institute for skewing the market.
This map shows the general routes of the main gas pipelines that go through Ukraine, and the EU's dependence on Russia for energy. Europe's deteriorating relationship with Russia has hit the region's growth, even before new food sanctions begin to bite. With cyberattacks on the rise and here to stay, it's a modern-day challenge for people and businesses to get smarter about preventing them. Airstrikes, rebels seizing control of oil fields, plus a severe refugee crisis are a recipe for market panic. Evidence points to pro-Russian separatists as perpetrators of the attack and Vladimir Putin is facing uncomfortable questions, David Clark writes.

The biggest Ebola outbreak in history is taking its toll in Western Africa, hitting some of West Africa's most vulnerable economies. Macau has overtaken Switzerland in the wealth stakes, being named the world's fourth richest territory by the World Bank. Saudi Arabian Bateel brand is best known for its delectable dates but it now has more than a dozen cafes and a new bakery in the works.
American burger joints have sprung up all over London, but how to know which ones are best? Sandwiched in between Iraq and Syria, Jordan's destiny seems to be one of a constant struggle for survival. Exotic animals are becoming a profitable business opportunity for Nicaraguan entrepreneurs. Paying a fair price for goods seems a no-brainer, but unfortunately that’s not always the case.
Not only do many workers get paid far too little for the work they do, but they also suffer through poor working conditions and have no worker benefits. Fixing those problems and ensuring that workers are paid and treated fairly is a big part of fair trade.

For example, if the market price falls below the guaranteed price level, though the guaranteed price will be paid for any Fair Trade purchases, the quantity of produce that will be bought from the producer is not guaranteed." A spokesman for the Fairtrade Foundation said the report was misleading and that it used out of date figures, pointing out that consumers often paid no premium at all in shops for Fairtrade bananas, coffee or tea.
Another layer is the commitment to farm sustainably–in other words, not destroy our earth so that I can have my cup of coffee each day.
No study ever produced has shown that the benefit to producers anything like matches the premium paid." The report said that the poorest countries did not benefit from Fair Trade.
The top four nations by Fair Trade certified producers in 2007 were Mexico, Colombia, Peru and South Africa, classed as "middle income countries" by the IEA. Coffee-producing countries with no Fair Trade producers have an even lower average GDP per head.

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