Monday, September 18, 2006

Hard work being concerned

"Fair" trade is a popular but useless label. So when it pops up at Stabucks, one must be wary (or put hand over wallet). Many economists have noted that it is just an application of price discrimination. The Undercover Economist refers to it as pricey "coffee for the concerned."

This morning's LA Times includes: "Fairtrade Coffee Not Living Up to Label in Peru ... 'Ethical' coffee is being produced in Peru, the world's top exporter of Fairtrade coffee, by laborers paid less than the legal minimum wage."