Taking Trade to the Streets: The Lost History of Public Efforts to Shape Globalization

Glossary

xix Glossary comparative advantage production of items in which a country’s or company’s relative efficiency is greatest compared with other countries or companies . A firm or country should concentrate production on items in which it has the greatest relative efficiency. production standards rules governing what is produced, affecting the design, physical characteristics, or safety of a product or service. process standards rules governing how goods are produced. social compact the norms that shape and constrain the domestic environment in which goods and services are produced. unfair traders countries that don’t play by the shared rules governing trade. ...