Why read Global Trade and Conflicting National Interests?

Book cover of Global Trade and Conflicting National Interests

Book description

Ralph Gomory and William Baumol adapt classical trade models to the modern world economy.

In this book Ralph Gomory and William Baumol adapt classical trade models to the modern world economy. Trade today is dominated by manufactured goods, rapidly moving technology, and huge firms that benefit from economies of scale.…

Explore

Topics

International trade

Genres

Business

When you buy books, we may earn a commission that helps keep our lights on (or join the rebellion as a member).

Why read it?

1 author picked Global Trade and Conflicting National Interests as one of their favorite books. Why do they recommend it?

Marc Fasteau

Author

I was excited to read this book, co-authored by a former president of the American Economic Association, because it proved using the same mathematical modeling that economists love, that trade is sometimes—often, in fact—win/lose.

Specifically, when a developed country like the US loses a large or high-value industry to another country, it loses more than it gains by being able to import the industry’s products at a lower cost. This encouraged me to dig further into the problems with US trade policy.

From Marc's list on The best books on how the US government’s free trade and extreme free market policies destroyed the American middle class and what to do about it.