The Myth of Free Trade: The Pooring of America

Features

• Cover Type: Paperback with 288 pages
• Published by: Touchstone May 13, 1996
• Written in: English
• ISBN 10 Number: 0684833557
• ISBN 13 Number: 978-0684833552
• Book Dimensions: 9.1 x 6 x 0.7 inches
• Weighs: 13.9 ounces

Product Description
In a front-page story in the Wall Street Journal, Pat Buchanan named The Myth of Free Trades as one of the cornerstones of his protectionist economic policy. Written by Dr. Ravi Batra, bestselling economist and author of The Great Depression of 1990, The Myth of Free Trade throws down the gauntlet to economic orthodoxy and challenges the gospel of free trade. Dr. Batra states that "laissez-faire has wrecked U.S. industry and shattered the American dream."

As an anecdote to our economic ills -- the federal deficit, our reliance on foreign imports, widespread downsizing, environmental destruction -- Dr. Batra sets out a five-year plan for economic revival that includes raising tariffs on imports, banning mergers among giant firms, and encouraging domestic competition by splitting huge corporations into smaller units.

Reader Reviews
Batra has done a fine job of pointing out the problem. Some want more figures, but the key here is the concept of "averaging". For that, I wish Batra had given us a simple example like the one below: With some 6 Billion People on the planet, 5 Billion earn less than $1,000 per year (say $5 Trillion) - only about 1 Billion earn around $25,000 or more ($25 Trillion) - with 300 Million those in the USA. So, if 6 Billion people "share" the $30 Trillion total World GDP, that means an "average" of $5,000 for each person. While a peasant in China might be temporarily better off, it would mean the economic end of the USA, Japan and Europe, then total collapse for the West. If China's current goal is to conquer the West, they can do it without a shot fired - just keep exporting while we keep importing and closing factories. I only hope that Batra writes a follow-up book quite soon and offers up an overview that all of us can internalize. My further hope is that he can present his comments on CSPAN, CNET and CNN before the US election in November.