Balanced Trade: Ending the Unbearable Costs of America's Trade Deficits
How should a principled nation which believes in the benefits of mutually beneficial trade respond to the predations of mercantilist trading partners and imbalanced trade? Many argue that the response should be to do little or nothing. Balanced Trade argues that achieving the full benefits of international trade requires an effective response. Although trade deficits provide short-term gains in consumption, these are combined with long-term losses in consumption, innovation, investment, employment and power. Furthermore, market mechanisms do not correct trade imbalances that result from mercantilism, nor do they compensate for the long term shift in production and consumption towards the mercantilist. Balancing trade can make important short run and long run contributions to economic stability and prosperity… [From Amazon.com]
Balance of trade, Commerce, Free enterprise, Trade deficits, United States
American Politics | Economic Policy | Economic Theory | International Economics | International Relations
Richman, Jesse T.; Richman, Howard B.; and Richman, Raymond L., "Balanced Trade: Ending the Unbearable Costs of America's Trade Deficits" (2014). Political Science & Geography Faculty Books. 33.