The Choice: A Fable of Free Trade and Protectionism Updated Edition - Softcover

Roberts, Russell D.

Softcover

ISBN 10: 0130870528 ISBN 13: 9780130870520

Publisher: Prentice Hall, 2000

Synopsis

A whimsical fable starring the ghost of a nineteenth century economist, whose journey takes him, and the reader, on a trip through the international economic issues facing America and American business today. Topics covered include trade deficits, environmental issues, free trade agreements, and labor standards. Previous edition: c1994. Softcover. DLC: Free trade.

About this title

About the Author

RUSSELL ROBERTS is the John M. Olin Senior Fellow at the Center for the Study of American Business at Washington University in St. Louis. Prior to joining the Center, he taught at the John M. Olin School of Business at Washington University, UCLA, Stanford University, and the University of Rochester. He is also the author of The Invisible Heart (MIT Press, 2001).

From the Back Cover

The choice explores a wide array of global economic issues from tariffs and quotas to the lives of unemployed workers and their children.

This updated and revised edition of THE CHOICE has new data and new discussions of timely topics including:

Trade deficits Trade with low-wage nations Environmental issues Labor standards Free trade agreements

From the Inside Flap

Preface

In the early 1990s, when this book was first published, many Americans were deeply fearful of Japan. Analysts, experts, and pundits claimed that the Japanese government and Japanese companies were waging and winning an economic war against the United States. Highlights of the Japanese strategy included subsidies to key technologies and excluding American products from the Japanese market. Some experts urged America to get tough with Japan; others wanted America to fight back by copying Japan's policies.

Much of the first edition of this book was devoted to a different point of view, rejecting the whole concept of economic warfare at the national level and arguing that although Japanese and American companies are in competition, Japanese success does not come at the expense of America. The debate seems quaint today; the Japanese economic malaise and the extraordinary performance of the American economy have pushed the Japanese-American economic relationship out of the headlines and out of the minds of the American people.

In this revised edition, I have de-emphasized the discussion of Japan's economic relationship with the United States. I do this with some trepidation. When the American economy falters and Japan's recovers, we will surely hear again of why Japan is a threat to the United States. So I have left in some of the material about Japan to innoculate the reader against future outbreaks of Japan-bashing.

In addition to de-emphasizing the U.S.-Japan relationship, I have added discussions of topics that have grown in importance since the early 1990s. In particular, I have added a new chapter on trade deficits (chapter 10) and a new chapter on trade with Mexico and low-wage nations (chapter 12).1 have added discussions of environmental issues, labor standards, and the World Trade Organization. I have moved the date of the story from 1995 to 2000 and updated. the data where relevant. I have included discussions of recent developments like the Internet and moved and merged material from the first edition in ways that make more sense to me now.

Russell Roberts (roberts@csab.wustl)
Center for the Study of American Business
Washington University in St. Louis

Edition details

• Publisher: Prentice Hall
• Publication date: 2000
• Language: English
• ISBN 10: 0130870528
• ISBN 13: 9780130870520
• Binding: Paperback
• Number of pages: 116