Robert Reich proposes putting labor standards in trade agreements, which is nothing new, except for this part:
Encourage developing nations to raise their labor standards as their economies grow. The easiest way to do this is to require that they set a minimum wage that's half their median wage. With this "minimum half median" standard in place, more of their people will share the gains from trade.
This is the first time I've heard such a proposal, although perhaps it has been suggested before. There are some obvious objections that might be offered, such as (1) many economists contend that minimum wage requirements increase unemployment and (2) including such a requirement could quite possibly scuttle any trade deal. But it's certainly a bold thing to propose.
