The Need for International Labor Standards Essay -- Economy Economics

The Need for International ram StandardsThe statesman, who should attempt to direct private mickle in what manner they ought to employ their capitals, would non only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no hotshot person, but to no single council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to hear himself fit to exercise it (Smith, 1776 456)IntroductionThere is no question that the combining of the free market and quickly advancing technologies has integrated the world miserliness to a level unsurpassed in history. In the quote that begins this chapter, whirl Smith asserts that government intervention in this free market is not only disruptive but also dangerous. However, it is essential that market forces be directed in a manner that is beneficial to works multitude as well as the owners of large capital interests. Count ries that habitually repel labor rights should not be permitted to enjoy unfair trading advantages at the expense of their workers. Although Smith feels that governmental or supragovernmental intervention is harmful, it is essential that the rapid growth of free markets be tempered with compassion for those who are render this expansion. While there are a great multitude of organizations and laws that nurture the interests of corporations, there is very little to protect the worlds working people. Smith, being an economist, is content to merely look at the macroeconomic picture without examining the human side of the situation. It is my thesis that the United States should make functioning and enforceable labor standards an integral part o... ...titution. http//www.ilo.org/public/english/overview/iloconst.htmpreRegional art Prograe for Latin America and the Caribbean. 1978. Employment in Latin America. New York Praeger Publishers. Ramos, Joseph R. 1970. sedulousness and Devel opment in Latin America. New York Columbia University Press.Smith, Adam. 1976. 1776. An Inquiry Into the personality and Causes of the Wealth of Nations. Indianapolis The Liberty Fund.U.S. Tariff Act of 1930. 1999. http//www.ita.doc.gov/import_admin/records/apo/title7.htmVan Grasstek, Craig. 1999. Labor Rights. In Miguel Rodriguez Mendoza, et. al. 1999. change Rules in the Making. Washington, D.C. The Brookings Institution.World Trade Organization. 1999. The WTO Agreements. http//www.wto.org/wto/inbrief/inbr03.htmWorld Trade Organization. 1999. The WTO in Brief. http//www.wto.org/wto/inbrief/inbr00.htm