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Economics - `The Choice: A Fable of Free Trade and Protectionism Third edition` By Russell Roberts

The Choice of Fable of Free Trade and Protectionism

Table of Contents

Table of Contents .2

The Choice : A Fable of Free Trade and Protectionism .3

Works Cited .7

The Choice : A Fable of Free Trade and Protectionism

The Book , The Choice : A Fable of Free Trade and Protectionism ' by Russell Roberts , according to a book review of the same literature is more than just a book . The review likewise stated that a book becomes more than just a book when the idea presented within it is so powerful that

it threatens to transform the world ( The Choice : A Fable of Free Trade and Protectionism (Book Review . With all the relevant discussions presented by Russell Roberts , there is this great possibility that it would influence majority of the people as regards the concept of Free Trade and Protectionism

First , it may be important to define what free trade and protectionism are . Free trade , as we all know pertains to economic trade where the flow of goods and services are rather unrestricted . On the other hand protectionism is characterized by the more evident restrictions on trade between nations . The Merriam Webster Dictionary defines the term protectionism as an advocate of government economic protection for domestic producers through restrictions on foreign competitors

With the above concepts of free trade and protectionism , Russell Roberts , throught eh comparative theory of David Ricardo explains balances the advantages and disadvantages of the two economic concepts and decides which of these two can best sustain the economy of the United States in the future

According to Goma (149 , this book by Russell Roberts presents a fictitious dialogue with the late David Ricardo , who explains his theory of comparative advantage . In his theory , David Ricardo presents two choices for the future of the United States ' economy under the principle of comparative advantage comparing the concept of protectionist policies and free trade ( Lori 's War ' 28 . He compares how free trade can save the American economy as much as protectionism may not be able to give . In this book , Roberts presents the case of how protectionism has helped to develop among people the concept of resistance to change and how it eventually caused the decline of the economy . For many , free trade is linked to globalization , while protectionism the opposite Protectionism , while it ensures the welfare of the employee by securing jobs for them through resistance to foreign products it nevertheless causes more long term negative impacts on the economy . In pushing this view , Roberts presents David Ricardo and how he evaluates resistance to change as the culprit that puts the Americans on to a dangerous path ( The Choice : A Fable of Free Trade and Protectionism (Book Review

One of the main points that Roberts presented is that according to him trade does not affect the number of jobs , instead it affects the types of jobs people work ( The Choice : A Fable of Free Trade and Protectionism (Book Review . Under this view , it is believed that although protectionism secures...

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