Radical Trade Reform: From Industrial to Ecological Civilization

Yi Huang and Shuying Tian

American Journal of Economics and Sociology, 2020, vol. 79, issue 1, 49-72

Abstract: All theories of international trade that are based on the paradigm of industrial civilization are becoming obsolete. The premises behind the principle of comparative advantage, which developed in the historical context of the early 19th century, are disappearing. Uncertainties about the future of fossil fuels, conflicts between rich and poor, global ecological fragility, and many other symptoms of system failure have revealed the flaws of industrial civilization and international trade. We examine the history of trade theory within the framework of industrial civilization. We then propose the transition to an ecological civilization, which will restore the diversity of cultures by moving away from the homogeneous world culture that globalization has begun to create. Under the conditions of ecological civilization, international trade will serve the human need to exchange the surplus of each society and to communicate with other cultures. It will cease to be a system of debt and dependence that threatens the sovereignty of most nations today.

Date: 2020
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