Hoover Institution economist Melvyn Krauss provides an easy-to-understand primer on why international markets serve national economies well. Protectionism in all its forms takes a beating on these pages. Krauss goes after environmentalists who opposed NAFTA, human rights activists worried about child labor, and consumer advocates concerned about safety. Closed economies do not advance any of these interests, says Krauss. His arguments occasionally proceed through straw men (a newspaper column by Anna Quindlen
is the centerpiece of one section), but they are sound and persuasive. We all want fair trade, but Krauss shows that we're not likely to get it unless we have free trade first.
"Melvyn Krauss...has been arguing for free trade--and against protectionist nonsense--for almost two decades.... His new book, How Nations Grow Rich, aims to `synthesize, extend, and apply the themes and analysis' of his earlier work. And indeed Mr. Krauss demonstrates how events in the past 15 years are confirming his hypotheses."--James Bovard, The Wall Street Journal
"Contains all the arguments one needs to understand why global free trade must march right over those politicians who seek to block its path."--Stuart Anderson, Talking Trade
"This is a forceful and very readable book on a subject in today's headlines. There are few economic writers--two or three at most--who go quickly and clearly to the heart of the matter and Krauss is one of them. I find him to be particularly good at exposing the speciousness of popular discussions of how the world economy works."--Edmund S. Phelps, McVickar Professor of Political Economy, Columbia University