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The Economics of Human Rights - Using the Living Income/Fair Price Approach to Combat Poverty (Hardcover, 1st ed. 2020)
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The Economics of Human Rights - Using the Living Income/Fair Price Approach to Combat Poverty (Hardcover, 1st ed. 2020)
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This book provides new insights into combining economic theory and
ethics, and how to formulate policies to combat the roots of
poverty. Since a large part of the world's working population is
underpaid, and does not have enough income to feed themselves and
their families, there is a need for an alternative approach to
producer prices than the usual neo-classical approach with its
emphasis on market and equilibrium prices. This book is an
introduction to the Living Income / Fair Price approach, a price
theory based on ethics and Universal Human Rights. The book
explains why there is a need for a paradigm change in our thinking
about prices by explaining why the usual market prices rarely are
equilibrium prices. Besides market disturbing elements like
monopolies and oligopolies, the needs of the poorest parts of the
population are not taken into consideration because they are not
reflected in the effective demand. This means that the way our
producers are paid needs a drastic overhaul, especially in a
critical area like food production. An important part of the book
is devoted to the need to pay, and the possibilities for paying, a
decent price to smallholder farmers. The underpayment of small food
producers means they have no possibility to invest and are not able
to prepare for the future. This is even more pressing now that
climate change demands that every farmer must adjust to changing
circumstances and adapt new production methods. Although primarily
meant for economists, the book meant also to stimulate discussion
amongst those involved in agricultural policies, both in developing
and developed countries.
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