Choice, The: A Fable of Free Trade and Protectionism

"Roberts's clever allegory clearly points out the fundamental danger threatening free trade: the favoring of the few at the expense of the many. More importantly, he makes a difficult subject understandable . . . and enjoyable!"--Fred Smith, CEO, Federal Express.

Key Benefit: David Ricardo comes to life to discuss international trade theory and policy with Ed Johnson, a fictional American television manufacturer seeking protection from Japanese televisions. Their dialogue is a sophisticated, rigorous discussion of virtually every major issue in trade theory and policy. To illustrate the positive and normative effects of international trade and trade policy, Ricardo takes the reader and Ed Johnson into the future to see an America of free-trade and an America of complete self-sufficiency. The fictional element brings these topics to life so that readers gain the intuition and understanding of how trade changes the lives of people and the industries they work in. Key Topics: The fundamental intuition of how international markets function including general equilibrium effects and policy analysis is provided. Every major topic of trade policy is covered including comparative advantage, dumping, tariffs, optimal tariffs, quotas, trade agreements, and industrial policy.