Word: tradings
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...became interested in social entrepreneurship after she consulted for the Clinton Foundation’s HIV/AIDS Initiative. “I realized that I could do business and do good at the same time,” she said. “There wasn’t a huge trade-off.” Scharpf then enrolled at the Kennedy School and then the Business School before working for the World Bank in Africa. The creation of the Social Entrepreneurship Fellowship, which will be given annually to an HBS alum, is indicative of a growing focus on social enterprise...
...Everyone," of course, is an aggregate. One difficulty with trade, and the reason that it becomes controversial at times of economic hardship, is that while its benefits are widely spread and difficult to measure, its costs are concentrated and often easy to see. The gains manifest themselves, for example, in low prices at the supermarket. But consumers are many, and they are not politically organized. By contrast, those who can be identified as losing out because of trade - like automobile workers who have lost their jobs to imports - are relatively few and are easy to marshal into political communities with...
...There are massive ironies in the "protection" of those damaged by imports. If you listen to many politicians, especially American ones, you would think that imports are bad, a signifier of economic failure. Trade only "works" if a country runs a surplus. (A logical impossibility when extended to all countries, but never mind.) Free-traders scream: No! It is imports, not exports, that are the whole point of trade; we trade precisely so we can enjoy those goods in whose production others have a comparative advantage. But that message is not easy to get across in hard times...
...There is a second difficulty in making the case for trade during downturns. Trade is a global phenomenon; politics is national. When unemployment lines lengthen, politicians understandably feel that they have to respond to the immediate needs of their constituents, not those (to adapt an infamous phrase of Neville Chamberlain's) in a faraway country of which they know little...
...Poverty, climate change and economic dislocation are all issues that, if not handled properly, could engender real political instability. Trade, just by virtue of its existence, makes international cooperation concrete. With all trade's potential to improve lives - so richly realized on those Asian riverbanks - it makes our world a safer and a better place. Now is not the time to turn our backs...