The Choice

A detailed Summary of The Choice

This is just some of my thoughts on reading Russell D. Roberts book "The Choice".

Mr. Roberts makes a very valid argument for free trade. The book is interesting because it counters all the arguments that Japan is going to take over the US. Free trade does make sense, from the point that everybody manufactures what they do best and in the end the consumers benefit. Now, the question is why do so many companies support quotas and tariffs? I believe it has a lot to do with how the American companies operate, for short-term profit. Long term planning today to an American company seems to be what will next quarters profit be and to satisfy the shareholders. With this type of mentality it is no surprise that many companies support quotas and tariffs, it is in their best interest and only theirs. Free trade will benefit the whole country in the long run at the expense of inefficient companies. This is the other problem, how many individuals would be willing to close their inefficient plants so the country as a whole could become more efficient, not many that I know. Totally free trade sounds good in theory but in my mind will never happen because each individual is going to look out for his or hers own interest, which quotas and tarif

Free trade leads to more opportunity, more wealth, and a more dynamic world. But a more dynamic world does not benefit everyone. Free trade hurts some people. But so does protectionism. If a group of Americans do not compete well in the global market place because their skills are readily available around the globe, how should America respond? By protecting them and insulating them from the competition they face, or by encouraging them and their children to improve their skills? You Judge.

The story began in the heavenly court where a young English economist named Dave Ricardo. He believed the United States is about to embark on a policy of protectionism that could destroy the American economy. His mission was to help put America on the path of free trade and prosperity. But, he was granted one day to fulfill his task. Meanwhile, in a small town in Illinois there was a television plant called Stellar Television Company and its Chief Executive Officer was named Ed Johnson. He was enjoying the annual company picnic with his fellow workers. Later that day Ed was walking home with his wife and told her about the Foreign Competition and how it might threat his company.

After visiting Ed's son future, Dave told Ed about how women workforce increased from 21 million in 1960 to 53 million in 1992. Ed was shocked to find out that his daughter Susan went to Washington University and got her MBA in retailing and is currently traveling all over the world representing her company.

Their next trip was back to the year 1960 were Frank Bates became president and passed a bill banning all exports to the United States. Ed didn't mind because his business became a booming success and his workers were rich. But, Dave explained to Ed the result of this bill made America overall a poorer country because without free trade. Americans would have to supply its own products, using up valuable resources that they could have get cheaper from other countries.

fs support in the short-term and not the interest of society as a whole.

Plus, since resources was scarce. Consumers had to pay more for a product such as cars and television because of the tariff bill. In addition, many foreigners who wanted to visit America would find

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Approximate Word count = 1505
Approximate Pages = 6 (250 words per page double spaced)

Category: English