- Hardcover: 336 pages
- Publisher: St. Martin's Press; 1st edition (September 15, 1991)
- Language: English
- ISBN-10: 0312061935
- ISBN-13: 978-0312061937
- Product Dimensions: 5.5 x 0.9 x 8.5 inches
- Shipping Weight: 1.3 pounds
- Average Customer Review: 11 customer reviews
- Amazon Best Sellers Rank: #2,696,890 in Books (See Top 100 in Books)
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The Fair Trade Fraud: How Congress Pillages the Consumer and Decimates American Competitiveness Hardcover – September 15, 1991
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From Library Journal
Unlike other books that discuss America's foreign trade policies, Bovard's work looks critically at these policies and how they directly and adversely affect U.S. consumers. Stating that "fair trade consists largely of the U.S. government devising new ways to protect American consumers against the scourge of low prices," Bovard gives specific examples that illustrate his claim that U.S. consumers are forced to pay higher prices for many goods because of our protectionist foreign trade policy. Writing from the viewpoint of one who has investigated and reported on the inconsistencies and hypocrisies in government practices, he makes his position quite clear--the government decides what consumers may buy by levying stiff tariffs on and restricting imports of many foreign goods. A disturbing work on a timely topic. Recommended for public and college libraries for existing foreign policy collections.
- Lisa K. Miller, American Graduate Sch. of International Management Lib., Glendale, Ariz.
Copyright 1991 Reed Business Information, Inc.
“A disturbing work on a timely topic.” ―Library Journal
“Bovard offers a smashing condemnation of American trade policy and exposes the corrupt core of protectionism and the absurdity of Congress making trade more 'fair' by making it less 'free'. . . . (shows) how arbitrary and ultimately counterproductive and restrictive our trade practices are.” ―The Wall Street Journal
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He asks, "Should the U.S. be imposing extremely high costs on the economy so that textile workers can be kept in jobs that pay worse than what they would likely find elsewhere?" (Pg. 59)
He notes, "A U.S. company needs almost no information to persuade (the) Commerce (Department) to initiate an inquisition of its foreign competition. American companies have not been penalized for submitting knowingly false information in order to persuade Commerce to investigate their competitors." (Pg. 139)
He argues, "Most violations of dumping laws are crimes without a motive. If foreign companies don't intend to take over the U.S. market, what incentive would they have to perennially sell at a loss? ... How can nations with little or no foreign currency reserves carry out a costly war of attrition against their American competition?" (Pg. 157-158)
He admits that "The case for retaliating against foreign subsidies is, at first glance, stronger than the case for penalizing foreign companies for differential pricing or low profits. Yet the United States is the only nation in the world that is obsessed with foreign governments' aid to business... The U.S. government has imposed more penalties on subsidized imports that have all other governments in the world combined." (Pg. 169)
He suggests, "We should postpone penalizing the Japanese for their trade barriers at least until American companies build products as good as the Japanese, and until American companies work as hard at exporting as do the Japanese." (Pg. 253)
Bovard's books are always lively, filled with ideas and information, and thought-provoking.
"Fair Trade" that began in the late 70's (when our factories moved overseas due to trade agreements and lowered tariffs) then culminated with NAFTA, was one of the MAIN reasons for the economic WASTELAND you see America in today. And the public is so brainwashed by the mass-media and dumbed down by our bad schools that they think America is still "great". Folks, it's not. America is a virtual 2nd World nation now. Most of our wealth has been transferred overseas and our Dollar's value is shrinking through inflation and the U.S. Govt has no spending power yet continues to borrow money it can't pay back (because the Govt surrendered American sovereignty and our businesses to Globalism and as a result, destroyed America's wealth).
James Bovard's book today is a chance for people to look back into the past and see that someone actually did tell the truth and laid out the consequences of the criminal policies our "Elected Masters" drew up in the back room to rob America blind/Sell-out America through a phony swindle called "Free Trade".
The only big issue is the book's date - 1992. A lot has happened since then in both free trade, and unfree trade. (It would be interesting to know Bovard's take on NAFTA and the recent steel tariffs) For even more politically tense works, you can read his more current bookes.