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Mike Munger: Fair Trade and Free Trade (58m)

This episode features an interview of economist Mike Munger from 2007 by Russ Roberts, host of EconTalk. Does the premium for fair trade coffee end up in the hands of the grower? What economic forces might stop that from happening? They discuss the business strategy of using higher wages as a marketing strategy to attract concerned consumers. They turn to the issue of free trade agreements. If the ideal situation is open borders to foreign products, is it still worthwhile to negotiate bilateral and multilateral agreements that requires delays, exemptions and a bureaucracy to enforce? What is the cost of including environmental and various labor market regulations in these agreements? Purchase books by Mike Munger on Amazon here.

Listen To This Episode (58m, mp3, 64kbps)

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