Resource An approach to calculate ‘Fair’ prices and wages
Type (e-)Newsletter (article)
Last update: 24/12/2010
Type: (e-)Newsletter (article)
Language English
Year of publication: 2004
Citation: fair price, fair wage, fair trade
Download: 43kb
Summary This article has appeared in IFAT Trade Post, The International Fair Trade Association Newsletter, Issue 4, November 2004
The Fair Trade movement often claims to pay the producer a ‘fair price’ for his products. There is no uniform economic definition of the word ‘fair’ however, with as a consequence that the word is meaningless. This article gives some approaches how to define ‘fair price’ in India, starting with the calculation of ‘fair wages’. A method is developed to calculate minimum fair wages and prices for the unorganised sector, where there are no trade-unions to represent the workers in their negotiations. Then the approach is applied to other countries as well.
Role Organisation
Network Organisation organisation details TeleSupport India Network
Network Organisation organisation details Fair Price and Fair Wages