PDF Ian Fletcher ï Free Trade Doesnt Work ePUB ´ Free Trade PDF or ï

This very readable book is aimed at both ordinary concerned citizens and people with a bit of sophistication about economics It is a systematic examination of why free trade is slowly bleeding America's economy to death and what can be done about it It explains in detail why the standard economic arguments free traders use all the time are false and what kind of economic ideas well within the grasp of the average American justify protectionism instead It examines the history and politics of free trade and explains how America came to adopt its present disastrous free trade policy It looks at the breakdown of specific industries and how we can rebuild them and bring millions of high paying jobs back to this country It examines what's wrong with NAFTA CAFTA the WTO and the proposed Trans Pacific Partnership It is sharply critical of the current establishment but from a bipartisan point of view so it should satisfy progressives conservatives and everyone in between Unlike many past critiques of free trade it is economically literate it also explains New Trade Theory the hot new area of economics that critiques free trade


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    I first approached this book wearing my skeptic's hat I had the idea that free trade had pretty much won in the world and that protectionists were merely members of the economic fringe Fletcher resolved this prejudice via a few hundred pages of clear level headed and surprisingly accessible proseWe begin with Part 1 The Problem When where and why does free trade fail? What are the common fallacious arguments given in support of unrestricted trade and how can we effectively counteract them? From the start Fletcher works to make clear that he is not out to overthrow capitalism or plunge the US economy into isolationThe fundamental message of this book is that nations including the US should seek strategic not unconditional integration with the rest of the world economyNot what you expected from a book with such a title right?Part 2 delves into the economics and history of free trade I was worried that this section might be too technical for someone like me with nothing than a semester of economics study but Fletcher makes an effort to stay extremely down to earth This section contains a fascinating attack on Ye Olde Theory of Comparative Advantage along with detail on exactly how free trade hurts the nations who engage in it excepting the nations who only pretend to engage in itPart 3 is a summary and a call to action It suggests a natural strategic tariff and evaluates the economic and political consequences domestic and foreign of such a change We end with an overview of recent political events that involve free tradeThe following campaign trail quotes are fairly amusing—if not now then definitely after you finish the bookJohn McCain with the National Association of Latino Elected and Appointed Officials 2008The global economy is here to stay We cannot build walls to foreign competition and why should we want to? When have Americans ever been afraid of competition? America is the biggest exporter importer producer saver investor manufacturer and innovator in the world Americans don't run from the challenge of a global economy We are the world's leaders and leaders don't fear change hide from challenges pine for the past and dread the future That's why I reject the false virtues of economic isolationism Any confident competent government should embrace competition—it makes us stronger—not hide from our competitors and cheat our consumers and workers We can compete and win as we always have or we can be left behind Lowering barriers to trade creates and better jobs and higher wagesFletcher compares this triumphalist rhetoric with that of British officials of a recently past century who also championed free trade as their empire crumbledBarack Obama in Flint MI 2008There are some who believe that we must try to turn back the clock on this new world that the only chance to maintain our living standards is to build a fortress around America to stop trading with other countries shut down immigration and rely on old industries I disagree Not only is it impossible to turn back the tide of globalization but efforts to do so can make us worse off Rather than fear the future we must embrace it I have no doubt that America can compete and succeed in the 21st century And I know as well that than anything else success will depend not on our government but on the dynamism determination and innovation of the American peopleFirst of all who cheers on free trade in Flint MI? And who actually believes that our dynamism is sufficient to counter Chinese currency manipulation?This book has left me confused I began as a staunch free trader but I've changed since then without a doubt In any case I think it's important that people read this book It's important that we revive the debate on free trade rather than discounting as I was doing just last month the merits of rational protectionism