The Choice by Russel Roberts
Just finished another book. This one was assigned reading for a course I am taking next term, Marcoeconomics. The Choice: A Fable of Free Trade nd Protectionism, by Russel Roberts, was a quick read, probably more so for mebecause of my familiarity with the concepts and terms it expounded. In the story English Economist David Ricardo returns to 1960's America a la the angel Clarence in It's A Wonderful Life. He comes down to prevent a minor political speech that may turn America into a protectionist nation. The surrounding economics, especially the Theory of Competitve Advantage, which Roberts renames the Roundabout Way to Wealth, are explored using the socratic method as Ricardo and the invented protagonist, Ed Johnson, a television manufacturer, discuss consequences of vairous government trade actions. Ricardo convinces Johnson that free trade benefits all in the long run, and puts some opaque economic theories into slightly less opaque vernacular. There are no graphs a...