The Choice: A Fable of Free Trade and Protectionism

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9780130870520: The Choice: A Fable of Free Trade and Protectionism

This supplement is appropriate for principles of economics, surveys of economics, international economics, international trade, or managerial economics. No prior economics is assumed, but the material can be taught at all levels.

  • Written as a novel, the book makes the complex concepts, issues and terminology of international trade understandable for students.
  • David Ricardo comes to life to discuss international trade theory and policy with Ed Johnson, a fictional American television manufacturer seeking trade protection from television manufacturers. 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 students gain the intuition and understanding of how trade changes the lives of people and the industries they work in. The fundamental intuition of how international markets function including general equilibrium effects and policy analysis is provided.

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Review:

"Brilliantly conceived."—Martin Wolf, Financial Times



"Gather around all of you who have been flummoxed by concepts like comparative advantage and purchasing power parity, puzzled about the difference between a tariff and a quota, or confused about which is better—fair trade or free trade. Russell Roberts explains the mysteries of global life in a heartwarming tale you won't soon forget."—Susan Lee, The Wall Street Journal



"Russell Roberts' 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 situation understandable…and enjoyable!"—Fred Smith, CEO, Federal Express



"…Puts the complex…issues surrounding…theemerging global economy into understandable terms. The ending is a surprise, the journey a pleasure. And the payoff for the reader is a broader, more vivid appreciation of trade issues."—Doug Harbrecht, Business Week

From the Back Cover:

A novel on the global economy? Russell Roberts breaks all the rules in this provocative and whimsical look at the key international economic issues facing America and American business. The Choice stars the ghost of David Ricardo, a nineteenth-century economist. To get his wings he must persuade the CEO of an American television manufacturing company that imports are good for America, even if they destroy the domestic television industry. Free of economic jargon, The Choice gives the reader a new perspective on how international trade affects business and our daily lives.

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

"About this title" may belong to another edition of this title.

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