[URPE] A new book has been published by URPE member Ian Fletcher: Free Trade Doesn't Work: What Should Replace it and Why
ian.fletcher at usbic.net
Mon Jan 25 11:48:03 MST 2010
A new book has been published by URPE member Ian Fletcher:
Free Trade Doesn't Work: What Should Replace it and Why
The info page for the book is here: http://www.freetradedoesntwork.com
Foreword by Edward Luttwak
Introduction: Why We Can't Trust the Economists
PART I: THE PROBLEM
Chapter 1: The Bad Arguments for Free Trade
Chapter 2: Deficits, Time Horizons, and Perverse Efficiency
Chapter 3: Trade Solutions That Won't Work
Chapter 4: Critiques of Free Trade to Avoid
PART II: THE REAL ECONOMICS OF TRADE
Chapter 5: Ye Olde Theory of Comparative Advantage
Chapter 6: The Deliberately Forgotten History of Trade
Chapter 7: The Negligible Benefits of Free Trade
Chapter 8: The Disingenuous Law and Diplomacy of Free Trade
PART III: THE SOLUTION
Chapter 9: Where Does Growth Really Come From?
Chapter 10: The Multiple Equilibrium Revolution
Chapter 11: The Natural Strategic Tariff
Chapter 12: The End of the Free Trade Coalition
Fletcher has written a powerful and refreshing critique of some cherished
assumptions held by mainstream economists. It is uniformly insightful, often
brilliant, and remarkably readable. Obama's team should read it - and soon.
-George C. Lodge, professor emeritus, Harvard Business School and author of
Managing Globalization in the Age of Interdependence.
Most Americans live under the myth that "sound economics" says so-called
trade" benefits all nations. Fletcher shows, in very readable prose, how the
discipline is finally catching up with reality and common sense and is
mind on that matter. This book will be an essential guide to the emerging
over the wisdom of "free trade" as a sound policy for our nation.
-Patrick A. Mulloy, Commissioner, U.S.-China Economic and Security Review
Commission, former Assistant Secretary of Commerce, former General Counsel,
Senate Banking Committee.
Unregulated markets have driven the global economy over the cliff, and it is
vital for economists and policy-makers to consider alternative approaches to
economic theory and policy. Ian Fletcher makes a powerful case for
simplistic mantra that markets generally maximize welfare and tariffs or
reduce economic prosperity. He points to more nuanced policies that avoid
extremes of blanket protectionism and unregulated trade.
-Prof. Geoffrey Hodgson, Editor-in-Chief of the Journal of Institutional
Cambridge University Press.
Ian Fletcher has laid out a powerful critique of so-called "free trade"
also making the case for rethinking and reforming our current trade
the economic challenges we face in an increasingly treacherous global
this book provides essential tools and analysis for policymakers and
-John J. Sweeney, President, AFL-CIO and author of and author of America
Needs a Raise: Fighting for Economic Security and Social Justice.
Drawing on the insights of a broad array of political persuasions, Ian
delivers a devastating and powerful indictment of free trade economics-one
should be widely read, not the least by economists themselves who's work
generally remains confined to their own narrow discipline. I agree with
can't trust the economists."Free Trade Doesn't Work will spark some
debate on what sort of political and economic policies we can trust.
-Gavin Fridell, author of Fair Trade Coffee: the Prospects and Pitfalls of
Driven Social Justice, Assistant Professor of Politics at Trent University,
Like the Holy Grail, free trade is a concept that works in the classroom and
minds of academics and others insulated from the harsh realities of global
the real world. In the real world, we have managed trade. This ranges from
free trade faith of economists, editorial boards, and politicians to the
protectionist, predatory trade practiced by some of our major global trading
"partners" like China. This book is an excellent introduction to these
what can be done about them. Unregulated markets have driven the global
economy over the cliff, and it is now vital for economists and policy-makers
consider alternative approaches to economic theory and policy. Ian Fletcher
a powerful case for abandoning the simplistic mantra that markets generally
maximize welfare and tariffs or regulations reduce economic prosperity. He
to more nuanced policies that avoid the extremes of blanket protectionism
-Dan DiMicco, Chairman and CEO, Nucor Steel Corporation and author of
Steeling America's Future: a CEO's Call to Arms.
Ian Fletcher bravely takes on the free-trade theorists who led cheers for
motion disintegration of American prosperity and he trumps them with facts
clear-eyed logic. If people will listen, Fletcher's informed voice will help
country toward a more promising future.
-William Greider, author of Come Home, America: The Rise and Fall (and
Redeeming Promise) of Our Country.
If the rest of your book is of this quality, you will have a classic that
will be of use for
many years... You are making a major contribution to thinking on trade
-Pat Choate, Running mate of Ross Perot in 1996 and author of Dangerous
Business: The Risks of Globalization for America.
A trenchant and comprehensive analysis of the gap between the theory of free
and reality, together with a revealing description of the weaknesses of the
-Ralph Gomory, Research Professor, Stern School of Business, New York
University and author of Global Trade and Conflicting National Interests.
In this sophisticated, well-informed, and comprehensive study, Ian Fletcher
provides a very powerful, passionate, and convincing critique of free trade
accessible and engaging manner. Read it.
-Ha-Joon Chang, University of Cambridge, author of Kicking away the Ladder
Trading Up is an excellent guide to the economic realities obscured by the
intellectually hollow promotion of 'free trade'. It is up-to-date,
-Jeff Faux, Distinguished Fellow, Economic Policy Institute and author of
Global Class War: How America's Bipartisan Elite Lost Our Future - and What
Take to Win It Back.
Rebuilding the American economy will require those in power to understand
what benefits workers, benefits the country. In Free Trade Doesn't Work, Ian
Fletcher makes it clear that America's nearly $6 trillion trade deficit
since NAFTA took effect in 1994 benefits neither workers nor the nation. The
debunks the myth of free trade and proposes a responsible alternative that
restore a measure of sanity to America's international trade policy.
-Leo W. Gerard, President, United Steelworkers.
If it strikes you that most of the arguments put forth for "free trade" are
really just so
much globaloney, you're right! Fletcher rips the mask from free trade myths,
pointing out that economists increasingly reject the idea that our nation
should base economic policy on such a dubious proposition. This book is a
powerful tool for anyone who wants to help raise common sense to high
-Jim Hightower, Bestselling author, national radio and newspaper
and editor of The Hightower Lowdown.
A superb debunking of the arguments for free trade and a thoughtful
the alternatives. Fletcher's book is required reading for policy-makers and
general public trying to understand how the United States has fallen into a
and what has to be done to escape it. The book is also a lesson in how
governments can sometimes convince citizens to support policies that work
-Richard H. Robbins. Author of Global Problems and the Culture of
and Globalization and the Environment (with Gary Kroll) and Distinguished
Teaching Professor at Plattsburgh State University.
Free Trade Doesn't Work offers a satisfying critique of the flaws of free
economics, and the damage that related policies have caused to the US
and beyond. Its arguments are tools with which to break the hold of the
trade consensus over our politicians, and to work towards truly fair trade
-Stephanie Celt, Director, Washington Fair Trade Coalition
One of the weaknesses of my book Debunking Economics was the lack of a
critique of the theory of free trade. My excuse was that I would have needed
book to pull apart that fallacious but widely believed theory. Ian
readable Free Trade Doesn't Work provides that book.
-Prof. Steve Keen, author of Debunking Economics and Associate Professor in
economics and finance at the University of Western Sydney, Australia.
Recently, Paul Samuelson, the godfather of modern economics, called the
economic orthodoxy pushing free trade "charlatans." After reading Free Trade
Doesn't Work you will know why he did. Ian Fletcher exposes the lies about
trade and a offers an easy to understand roadmap to economic reality.
-Bob Baugh, Executive Director, AFL-CIO Industrial Union Council
In Free Trade Doesn't Work, Ian Fletcher points to the ideal of 'free trade'
proclaims it isn't wearing any clothes! Instead of following along with the
Fletcher systematically presents the failures of an unrestrained trade
offers up a balanced discussion of what a managed trade system could
accomplish in its place. His discussion of the World Trade Organization's
and of China's open defiance of the spirit of WTO rules, is refreshingly
timely. A direct move toward managed and open global trade is what America
needs from its economic emperors, and this book is an important step in that
-Thomas S. Mullikin, author of Truck Stop Politics: Understanding the
Force of Working Class America.
Ian Fletcher has convincingly dismantled the facade that for decades enticed
cattle ranchers and their trade associations to support a free trade policy
systematically destroying the economic integrity of their industry. A superb
of our nation's misdirection.
-Bill Bullard, CEO, R-CALF USA (Ranchers-Cattlemen Action Legal Fund, United
Stockgrowers of America)
Ian Fletcher's argument against free trade and in favor of tariffs is not
courageous assault on our so-called conventional wisdom, it makes a
wildly compelling case for regulation. The book is an impressive piece of
scholarship, one that could and should provide the blueprint for government
intervention in commerce. Economists will stand up and take notice. Wall
will hate it.
-David Macaray, author, It's Never Been Easy: Essays on Modern Labor
This readable book dramatizes our lost history of global trade and
mythology surrounding the benefits of unbridled free trade. A vital primer
trying to understand the current trade debate.
-Chuck Collins, Institute for Policy Studies; co-author, The Moral Measure
You have written a bible for us. It is brilliant! You even cover issues I
concerned about but never had time to discuss with anyone else. I start-ed
reading it and ended by studying it. Am now going through it for the second
underlining and highlighting.
-Brian O'Shaughnessy, Chairman, Revere Copper Products; Co-Chair, Coalition
for a Prosperous America
Ian Fletcher is an Adjunct Fellow at the San Francisco office
of the U.S. Business and Industry Council, a Washington
think tank founded in 1933. He may be contacted at
ian.fletcher at usbic.net or 415.439.8377.
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