9781422281208

clothes we wear, and countless other goods and services that we take for granted in everyday life now come from anywhere in the world. World trade has increased at dramatic rates in recent decades. In 2003, countries around the world exported less than $8 trillion in goods. By 2013, the value of international trade had surpassed $18 trillion. Not everyone, however, has benefited to the same degree from today’s globalized economy. As a case in point, consider the econom- ics of one of our most popular foods: chocolate. Everybody Loves Chocolate Chocolate is the world’s best-selling confection, accounting for over 55 percent of all candy sales worldwide. From gourmet bonbons to dollar-store candy bars, more than 7 million tons of chocolate are gob- bled up each year around the globe. The Swiss, the world’s biggest chocoholics, consume a record-setting twenty-six pounds (12 kg) per person of the sweet treat. That’s equivalent to about 240 average-sized chocolate bars. In the United States, a whopping 90 million pounds of chocolate candy are sold during Halloween week alone.

Words to Understand in This Chapter

accrue— to accumulate over a period of time; to increase in value or amount. commodity— a product that is bought and sold. gross domestic product (GDP)— the value of all goods and services produced in a year. lucrative— profitable; producing or involving great wealth. surpass— to exceed or do better than. volatile— subject to change in an extreme or sudden way.

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Global Inequalities and the Fair Trade Movement