Robert Russell’s book The Choice: A Fable of Free Trade and Protectionism advocates and promotes free trade between different countries. Throughout the course of the story, David Ricardo walks through both the advantages and disadvantages of free trade and protectionism. While reading the book, I learned how countries prosper when set in a free trade world. Although a free trade economy isn’t perfect, I learned from the book that free trade helps the economy in the long run.
In chapter four of the book, Russell discusses how only some American workers were harmed in 1960 because of Japanese competition. What I learned that because of this competition America got wealthier and both countries actually prospered because of this. Roberts easily informs his readers of this by clarifying that the mistake people commonly make when thinking of trade, is that it’s a fight over a fixed pie. However, this isn’t the case, trade allows people to apply their skills as prolific as possible, making the entire pie bigger.
Furthermore, another thing that I have learned is how fair trade, although may sound like it’ll aid consumers, actually attacks consumers. The government trying to level the playing field results in dumping. Where a manufacturer will sell their
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When Dave shows Ed how his kids turned out where America is self-sufficient. Ed discovers how limited his children’s opportunities become. Susan, in a world with no free trade never made it to graduate school or to Hong Kong. While Steven in the same world, his son had to wear thick glasses because no drug by Merck was developed to cope with his eye problem. There was also no voice controlled computer and big screen television in their house. This was because free trade leads to more opportunity and wealth. Free trade allows the world become more dynamic compared to the static world of protectionism, encouraging people to dream compared to being content with what they