Free Trade Agreements and the Neo-Liberal Economic Paradigm: Economic, Ecological, and Moral Consequences

Abstract

Since signing and implementing the North American Free Trade Agreement (FTA) in the early 1990s, the United States has pursued other free trade agreements with nations in Latin Ainerica and Asia. The premise undergirding FTAs is diat trade liberalization within the neo-liberal global economy produces econoinic grovkth and development among all parties, and redtices poverty in poor nations. We examine arguments of proponents of free trade and the neo-liberal economy-particularly those of Martin Wolf, author of Why Globalization Works-to test these claims. We explore alternatives that center on norms of ecological sustainability and social justice, holding these two as inseparable. The central moral question of how to achieve needed socioeconomie development in the Global South in ways that are both ecologically sustainable and socially just frames our analysis. We conclude by proposing five principles for an alternative, more stistainable and equitable economic paradigm.

Global Challenges and Responses: Agriculture, Economic Globalization, and Environmental Sustainability in Central Asia

“…At present, many countries are trying to enhance their income by participating in economic globalization (EG), particularly in industries with numerous benefits, such as agriculture [2]. EG, defined as the integration of economic activity across borders through markets, is at the heart of a comprehensive globalization phenomenon that spans economic, social, cultural, and environmental aspects [3]. Related to agriculture, EG boosts income, employment, markets, value chains, national specialties, export diversification, and modernization [4,5].…”

“…Conservation efforts began in response to a growing awareness of environmental sustainability Sustainability 2022, 14, 2455 2 of 21 among various countries and consumers [10]. EG generates the economic resources that allow for environmental stewardship and cleanup [3]. Eco-friendly agreements and food certifications have been launched to meet these goals [11].…”