The travels of a t-shirt in the global economy : an economist examines the markets, power and politics of world trade / Pietra Rivoli.
Rivoli is a college professor who saw an anti-globalization rally on campus and decided to gather the facts by following a T-shirt from field to the end of its life. What she found surprised her.
At almost no time did market forces determine the course of events. Cotton is a heavily subsidized crop, whose producers have insulated themselves from weather, labor costs and even the price of the commodity. The making of thread, cloth and apparel are all subject to intense international regulation, with rules changing almost weekly. At all steps, the main factor is not a theoretical competitive advantage, but the amount of political muscle that can be brought to bear. A good read for anyone who wants to understand how the global economy really works.
Strong sections include:
* Why African cotton growers will never catch US producers, even if their labor is nearly free.
* Why many small undeveloped countries desperately want trade limits.
* How textiles have been the historical path to industrial development.
* The one place where the free market controls the fate of the T-shirt.
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