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Griswald, Dan Mad about Trade eBook

Mad about Trade

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Imprint: Cato Institute

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Mad about Trade is the much-needed antidote to a rising tide of protectionist sentiment in the United States. The book explains the benefits of free trade and globalization for middle-class, Main Street Americans exposed to a barrage of negative claims from politicians and commentators such as Lou Dobbs. It offers a spirited defense of free trade and globalization that engages the populists on their own turf. In eight timely and provocative chapters, the book shows how middle- and low-income families benefit from import competition, and how a more globalized U.S. economy has created better jobs and higher living standards for American workers through the ups and downs of the business cycle.

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Title of Business & Economics eBook: Mad about Trade
Release Date: 09-16-2009
Publisher: Cato Institute

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Parent title Mad about Trade
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SKU 9781935308201
File size 2857
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Mad about Trade


Chapter One

Introduction: Main Street Meets the Global Economy

Welcome to my closet-my multinational, middle-class closet. If you had cared to look inside on a Saturday afternoon in early 2009, you would have found:

Ten business suits and blazers: two of them made in China, two in Canada, two in the United Kingdom (my tweed jackets from the 1990s), and one each in Mexico, Guatemala, India, and parts unknown (the label fell off).

Fourteen dress shirts: four made in Bangladesh, two in Honduras, and one each in China, Mexico, Nicaragua, Vietnam, Peru, Costa Rica, Korea, and Egypt.

Seventeen neckties: nine made in the U.S.A. (several of those from imported fabric, including "finest Italian silk"), three in China, and one each in Costa Rica, South Korea, the United Kingdom, Italy, and parts unknown.

Sixteen casual button shirts: five from India, three from Canada, two from Malaysia, and one each from the U.S.A., South Korea, the Philippines, Thailand, China, Bulgaria, and parts unknown.

Thirteen knit shirts with collars: three each from India and Egypt, and one each from Thailand, the Philippines, Honduras, Bulgaria, Vietnam, Brunei/Darussalam (time to get out the atlas), and China-the last with Lou Dobbs' worst nightmare on the label: "Hecho en China."

Twenty-seven colored and printed T-shirts: nine from Honduras, six from Mexico, three from El Salvador, two from Thailand, one each from China, Singapore, Australia, and four from parts unknown.

Six sweaters: two from China, one from

...

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