Foreword by Edward Luttwak
Are you wondering how Americans can compete with nations like China? Are you wondering how, if they can offshore call centers, computer programming, and accounting, there will be any good jobs left they can't offshore? Are you wondering how America can keep importing and running up debt without going bankrupt? Are you wondering how America can be a powerful nation without an industrial base? Are you wondering why the politicians keep denying all of these problems? Are you wondering whether the economics you learned in school and hear on TV is really valid? Are you wondering who you can trust? 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.