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Name: Wichland Laguerre
Date: 9/19/17
Book Report on Free Trade and Protectionism
Over the recent decades, principles of economics and related concepts have
increasingly dominated media coverage as well as other communication channels. Given the
critical role of economics in both national success and broader social wellbeing, many
economic experts have shared and contributed their expertise and insights in a bid to promote
economic competence. Among such experts is Russell Robert who in his book “The Choice –
A Fable of Trade and protectionism” introduces a new level of insight on what counts
towards realizing economic prosperity. Presenting his ideas in an engaging novel, Russell sets
out to demystify complex international trade concepts and demonstrate how various
economic tools work and can be constructively employed in life. He further explores in depth
the dynamics of international markets in the context of trade theory and policy. Given the
relevance of international trade, free trade, protectionism and other concepts covered in
Russell Robert’s book, it’s imperative to explore the author’s ideas in detail. Against that
background, this paper sets out to present a comprehensive report on the themes and contents
of the author’s book to realize a better understanding.
The setting of the book is in America where the author attempts to explain a series
of economic concepts relating to the U.S as a world economic powerhouse. In this case, the
author explores the place and influence of China and India as nations with fast-paced
economic development. As asserted in the book, while these countries steadily realize
economic prosperity, they do not represent any threat to the current place held by the United
States. The author proceeds to argue that trade proceeds involving the US with China and
India result in improving the economic well-being of the U.S. In this case, America stands to
gain financially owing to expanded opportunities evidence by the economic cooperation. This
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view is introduced as soon after the first chapter opens where he promotes the idea of free
trade over protectionism. Through the dialogue of the defendant and the magistrates, the
author argues that free trade is a path to economic prosperity as opposed to protectionism
(Roberts 1). At this point, the author asserts that economies like the United States have
nothing to fear about in freeing trade and on the contrary stand out to gain from new
opportunities.
The book also goes a long way to explain the concept of comparative advantage in
the context of international trade. As elaborated in the book, comparative advantage refers to
an economic concept relating to the ability of economic actors to produce services and goods
at relatively lower opportunity costs compared to other players (Roberts 10). For instance, in
the novel, the author explains why the U.S imports televisions sets from Japan in spite of the
