ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Articles by Ruud BronkhorstSubscribe to Ruud Bronkhorst

'Fair' Prices and Wages

Lately it has become fashionable, especially in the fair trade movement but not only there, to advertise products with the slogan that 'the producer receives a fair price' for his products. There appears not to be a uniform economic definition of the word 'fair', however, with as a consequence that the word has become meaningless. Here are some approaches on how to define 'fair price' in the Indian context, starting with the calculation of 'fair wages'.
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