A New Trade Agenda

..."Under the free trade system underdeveloped nations are encouraged to push down domestic wages for the sake of attracting foreign investment. Under a fair trade system only nations that encouraged higher wages would attract investment. Nations would be prompted to use the billions of dollars in foreign currency that they have collected in the past three decades to build up infrastructure and education systems which would make their workers competitive with the developed world, rather than using squalor and backwardness to their advantage while giving workers virtually nothing in return."

Essay here from "Economy In Crisis"