How The Global Market Has Changed The Lives Of People

1582 Words7 Pages
Over the course of the last century, the global economy has developed exponentially. With increasing infrastructure, transportation and thus, expanding global trade routes, sourcing of global products, goods and services has become increasingly more accessible; typically for the economic powers. Through the advent of capitalism and the rising powers in the west, global economic disparity has become evermore apparent allowing wealthy nations to quickly advance whilst leaving lesser nations behind. Much has been criticized of the implementation of ‘free-trade’ and the limits it places on poorer nations ability for financial growth, exacerbating this wealth disparity (Boudreaux 2007). Understanding the impact the global commodities market can have on lives of people in local communities, socially, culturally, and economically is an important area of research and much has been debated on how to improve the lives of citizens living in developing nations. In this essay I will discuss how the global commodities market has changed the lives of those living in local communities; in villages in Ethiopia affected by the free trade movement, and the changes fair trade has brought to Western communities, and I will focus on one such potential solution; that of fair-trade, around which there has been a steady debate on how beneficial it really is. I will be arguing that although fair trade is not single-handedly changing the global economy and providing economic equality for all, we need
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