Abstract

In order to enrich global corporate culture, a distinction must be made between the economic ideology of free trade and the moral ideology of fair trade. GATT has failed to make this distinction. Its sole ethos of free trade is only applicable among developmentally equivalent nations, and has been used by TNCs as a means for attaining their commercial ends in the third world. GATT''s lack of commitment to an objective of fair trade necessitates its replacement. This article suggests a replacement in the form of a network of trade organizations. The network takes the form of a hub-and-spoke arrangement, in which the hub would be the Global Trade Organization, and the spokes would each represent Regional Trade Organizations.