Fair Exchange Meaning
The concept of fair exchange defines that there should be a balance of exchange in any trade between two individuals. This goes beyond the transactional exchange of goods and services for money. Therefore, an exchange is fair when both parties get the satisfaction they deserve even if it does not involve money. Fair exchange tries to protect the interests of all involved in a trade, so, nobody has to give more than he gets. Find It Health explains what fair exchange is all about, helping buyers and sellers build healthy relationships.
When you exchange goods or services with clients, you should get an equal value of what you gave out. While your client gets the expected satisfaction from the products or services. In the end, none of the two parties feels resentful or ripped off. This is what the fair exchange concept implies.
Due to the importance of fair exchange in commerce, Chicago Journals published a research paper on why manufacturers should want fair trade.
Fair Exchange Definition
The dictionary states that trade or deal is fair if items of equal value are exchanged. Hence, “a fair exchange is no robbery”.
A fair exchange in Reverso online English dictionary is defined as free from discrimination, dishonesty, etc.; just impartial.
The following words or phrases from the English dictionaries thesaurus are synonymous with “fair exchange”. They include:
· Fair trade
· Fair deal
· Equal transactions
· Fair do
· Fair game
· Honest deal
· Fair play
· Fair go
· Equal value transactions
· Fair shake
All these words are synonyms for fair exchange. They point to the fact that a transaction between two parties is fair when the value exchanged is equal. Some sectors make use of the fair exchange protocol which implies that parties accept to deliver an item if and only if they receive an item.
Anxiety and stress can take away your happiness. Therefore, deal with them by following these meditation-based exercises for stress.
Fairness As A Concept
The concept of fairness can occur in many forms which do not have to involve the exchange of goods/services for money. An old saying goes “fair exchange is no robbery”. This means that once no party to a trade feels robbed, or senses unfairness, then fairness is in play.
Here are variations to consider of what fairness may be:
· Sometimes, you may render certain services to a client without getting any payment. This could be due to a strong relationship between you and the client. The client loved what you delivered and you on the other hand feel satisfied and happy as a result of the delivery. In the end, none of you senses any unfairness or resentment.
· A client can pay for your services upfront, however, due to their tight schedule, they may not show up. Let us assume that the client never showed up to get the services within its validity period. Is it still a fair deal? Because he did not ask for a refund and you were ready to deliver the services. In the end, however, no one is feeling cheated on.
Reflecting on your daily life with these 15 night journaling prompts to bring peace and fairness to your daily activities.
· Does fairness also manifest when you render services to a client and in return, he offers you his own services? The services may satisfy you, and you did not sense any plot to rip you off. This is more of a barter concept of exchange. The question is, however, if it is still fair?
· Another consideration of fair practice is when you render services to a friend or a client and let him give whatever he feels in return. What you get may be more or less of equal value, but there is satisfaction between you two. None of you feels unfairly treated at last.
Fairness as a concept suggests that there is an intrinsic value or price attached to a product or service. And, it is a fair exchange when the product or service is given out upon receipt of the value. The variations above suggest that the value of a product or service is agreed to by the parties willing to trade.
Research by Find It Health shows why it is necessary to take chances and see the other side of things.
The question then becomes “what are you willing to sell for?” and ”what am I willing to pay?”. If the two of us agree to each other’s terms, then it is likely considered fair.
Fairness comes with the satisfaction of both parties involved in an exchange. It suggests that at the end of any trade, the parties involved feel fulfilled. And, no party senses unfairness or resentment.
Feel free to include these self-care life improvement tools in your daily routine.
Unfairness And Resentment
Sometimes, there may be an exchange at an agreed price, but the entire trade spells unfairness and resentment. Take, for instance, a young person being sold into labor. This is especially against their will. The seller gets the price, while the buyer gets the services. But, there is no fairness in the trade looking at it from the part of the young person.
Do we now say that the concept of fair exchange considers emotions? That is to say, because the commodity sold is a human and it is inhuman to sell a fellow human being, then even if there is an exchange at an agreed price, it is unfair?
While the concept of fair exchange may appear quite elusive, understand that fair exchange is no robbery. Considering the instance above, the youth being sold for labor are robbed of their rights. Therefore, no matter the terms of the exchange, it is unfair.
Learn these mindfulness principles to help you become a better person free from unfairness and resentment.
Frequently Asked Questions – Trade
What exactly is fair trade?
Fair trade is generally considered to be the exchange of items or services of equal value between two willing individuals. The result of fair trade is the feeling of satisfaction and fulfillment between the parties involved. This is because each got what he wanted.
There are, however, variations of what a fair trade may be. Hence, you may also consider the agreement between the two parties involved as the ultimate deciding factor. That is, when the two parties agree, it no longer matters whether what each gives is exactly equal in value.
Fair trade also shows up when we give consciously to experience the joy of giving. It does not matter whether you exchange for money, service, or nothing.
This happens when you live an abundant life and at this point, you no longer lack. A life of abundance means that the universe already gave you everything. Therefore, when you give to experience joy, you are just giving back what you already received. And, it will still come back to you whether immediately or later.
Check out these simple activities to improve your morning routine and help you start a generous day.
What is an example of fair trade?
A good example of fair trade is international trade, where a country exports its resources to another country in exchange for money or other services that they lack. This allows developing countries to be part of the world’s trade system. They get to exchange whatever goods or services that they have in excess for those that they don’t have, or, for money to buy them.
How do you explain fair trade to a child?
In a painting class, you have two packs of crayons but not any brush. Looking around, you saw your neighbor who had just forgotten his crayons at home but is with his brushes. Fair trade is when you approach him and let him share your crayons while sharing his brushes. The exchange is fair because the two of you are happy in the end. You got what you wanted while your neighbor also got what he wanted.
It is also a fair trade when your friend offers to pay for one of your crayons. So, you use the money to buy what you need. That particular exchange of crayons for cash is a fair trade.
Try out these mantra meditation practices to achieve presence and self-awareness. Being self-aware can make you better at trade.
Conclusion – Research by Findithealth.com
Fair exchange is a concept that tends to protect the interests of traders. So even the very kind or confused traders do not have to give more for less. At Find It health, we promote fairness to achieve overall wellness for all. As a result, we detailed the meaning of fair exchange on this page to help you grasp what the concept is all about.
What do you know about fall? Here are interesting fall facts that will excite you.