Good-bye, banking and construction, hello coffee shops! As my beat at Hoover’s has changed from the banking industry with its current “Song of the Volga Boatmen” soundtrack, I am now covering other industries that provide slightly more happiness in these troubled times.
Specifically, coffee shops. And here is what I’ve learned: Fair trade may be most well-known in connection with coffee, but it’s no longer restricted to the queen of beans. Now, items labeled fair trade include chocolate, flowers (also another one of my new industries), fruit, sugar, rice, and more. Even products with multiple ingredients such as baked goods can be labeled “fair trade” since many of their ingredients come under the label.
Why is fair trade booming? A part of it comes from a sense that one can have one’s morning buzz and help the world, too. Fair trade increases the money that goes to farmers and growers in poor regions. It encourages the use of organic farming techniques and supports growing cooperatives that give farmers more clout in marketing their crops.
Like microlending, fair trade recognizes that there’s a little capitalism inside all of us.
Especially now that the banking industry seems to have decided to unleash its inner socialist, that’s kind of refreshing.
Sort of like that cup of coffee first thing this morning.
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