Free Trade Doesn't Work
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Critical Praise
Ian Fletcher has written a powerful and refreshing critique of some cherished assumptions held by mainstream economists. It is uniformly insightful, often brilliant, and remarkably readable. Obama’s team should read it—and soon.
—George C. Lodge, Professor Emeritus, Harvard Business School; author, Managing Globalization in the Age of Interdependence
Old-fashioned comparative advantage in international trade has been swamped by foreign industrial policy. The only way to save our economy is for the U. S. to counter with trade and industrial policies designed to correct the defects of free trade. Ian Fletcher's Free Trade Doesn't Work is the best guide to develop such policies.
—Ernest “Fritz” Hollings, Democratic senator from South Carolina, 1966-2005
Fletcher has laid out a powerful critique of so-called free trade while also making the case for rethinking and reforming our current trade policies. Given the economic challenges we face in an increasingly treacherous global economy, this book provides essential tools and analysis for policy-makers and activists.
—John J. Sweeney, former President, AFL-CIO; author, America Needs a Raise: Fighting for Economic Security and Social Justice
Like the Holy Grail, free trade is a concept that works in the classroom and in the minds of academics and others insulated from the harsh realities of global trade in the real world. In the real world, we have managed trade. This ranges from the blind free trade faith of economists, editorial boards, and politicians to the mercantilist, protectionist, predatory trade practiced by some of our major global trading “partners” like China. This book is an excellent introduction to these realities and what can be done about them.
—Dan DiMicco, Chairman and CEO, Nucor Steel Corporation; author, Steeling America
’s Future: A CEO’s Call to Arms
Most Americans live under the myth that sound economics says so-called free trade benefits all nations. Fletcher shows, in very readable prose, how the discipline is finally catching up with reality and common sense and is changing its mind on that matter. This book will be an essential guide to the emerging debate over the wisdom of “free” trade as a sound policy for our nation.
—Patrick A. Mulloy, Commissioner, U.S.-China Economic and Security Review Commission; former Assistant Secretary of Commerce
Ian Fletcher makes a powerful case for abandoning the simplistic mantra that markets generally maximize welfare, and tariffs or regulations reduce economic prosperity. He points to more-nuanced policies that avoid the extremes of blanket protectionism and unregulated trade.
—Geoffrey Hodgson, Editor-in-Chief, Journal of Institutional Economics, Cambridge University Press
Ian Fletcher bravely takes on the free-trade theorists who lead cheers for the slow-motion disintegration of American prosperity and trumps them with facts and clear-eyed logic. If people will listen, Fletcher’s informed voice will help turn the country toward a more promising future.
—William Greider, author, One World, Ready or Not: The Manic Logic of Global Capitalism
In this sophisticated, well-informed, and comprehensive study, Ian Fletcher provides a very powerful, passionate, and convincing critique of free trade in an accessible and engaging manner. Read it.
—Ha-Joon Chang, University of Cambridge; author, Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism
Drawing on the insights of a broad array of political persuasions, Ian Fletcher delivers a devastating and powerful indictment of free trade economics—one that should be widely read, not the least by economists themselves, whose work generally remains confined to their own narrow discipline. I agree with Fletcher: “We can’t trust the economists.” Free Trade Doesn’t Work will spark some much-needed debate on what sort of political and economic policies we can trust.
—Gavin Fridell, Assistant Professor of Politics, Trent University; author, Fair Trade Coffee: The Prospects and Pitfalls of Market-Driven Social Justice
A trenchant and comprehensive analysis of the gap between the theory of free trade and reality, together with a revealing description of the weaknesses of the theory itself.
—Ralph Gomory, Research Professor, Stern School of Business, New York University; author, Global Trade and Conflicting National Interests
Free Trade Doesn’t Work is an excellent guide to the economic realities obscured by the intellectually hollow promotion of “free trade.” It is up-to-date, comprehensive, and very readable.
—Jeff Faux, Distinguished Fellow, Economic Policy Institute; author, The Global Class War: How America’s Bipartisan Elite Lost Our Future—And What it Will Take to Win it Back
In Free Trade Doesn’t Work, Ian Fletcher makes clear that America’s nearly $6 trillion trade deficit accumulated since NAFTA took effect in 1994 benefits neither workers nor the nation. The book debunks the myth of free trade and proposes a responsible alternative that would restore a measure of sanity to America’s international trade policy.
—Leo W. Gerard, President, United Steelworkers
If it strikes you that most of the arguments put forth for “free” trade are really just so much globaloney, you’re right! Fletcher rips the mask from free trade myths, pointing out that economists increasingly reject the idea that our nation (or others) should base economic policy on such a dubious proposition. This book is a powerful tool for anyone who wants to help raise common sense to high places.
—Jim Hightower, bestselling author; national radio and newspaper commentator; editor, The Hightower Lowdown
Free Trade Doesn’t Work offers a satisfying critique of the flaws of free trade economics and the damage that related policies have caused to the U.S. economy and beyond. Its arguments are tools with which to break the hold of the current free-trade consensus over our politicians and to work towards truly fair trade and economic policies.
—Stephanie Celt, Director, Washington Fair Trade Coalition
A superb debunking of the arguments for free trade and a thoughtful examination of the alternatives. Fletcher’s book is required reading for policymakers and for the general public trying to understand how the United States has fallen into a debt trap and what has to be done to escape it.
— Richard H. Robbins, Distinguished Professor, Plattsburgh State University; author, Global Problems and the Culture of Capitalism
Ian Fletcher’s Free Trade Doesn’t Work injects some urgently needed common sense and rigorous thinking into what may be the most important economic policy debate of our time.
—Alan Tonelson, author, The Race to the Bottom
Ian Fletcher’s book is of immense value in defining the parameters of the idolatry of free trade. Politicians and the general populace continue to be afraid to abandon this false god because of the kind of superstitions and inaccuracies that this book exposes very well. I would highly recommend it.
—Manuel F. Montes, Chief, Development Strategy and Policy Analysis, United Nations Development Policy and Analysis Division.
In Free Trade Doesn’t Work, Ian Fletcher points to the ideal of “free” trade and proclaims it isn’t wearing any clothes! Instead of following along with the crowd, Fletcher systematically presents the failures of an unrestrained trade system and offers up a balanced discussion of what a managed trade system could accomplish in its place.
—Thomas S. Mullikin, author, Truck Stop Politics: Understanding the Emerging Force of Working Class America.
Ian Fletcher has convincingly dismantled the facade that for decades enticed U.S. cattle ranchers and their trade associations to support a free trade policy that was systematically destroying the economic integrity of their industry. A superb analysis of our nation’s misdirection.
—Bill Bullard, CEO, R-CALF USA (Ranchers-Cattlemen Action Legal Fund, United Stockgrowers of America)
Ian Fletcher’s argument against free trade and in favor of tariffs is not only a courageous assault on our so-called conventional wisdom, it makes a brilliant and wildly compelling case for regulation. The book is an impressive piece of scholarship, one that could and should provide the blueprint for government intervention in commerce. Economists will stand up and take notice. Wall Street will hate it.
—David Macaray, author, It’s Never Been Easy: Essays on Modern Labor
This readable book dramatizes our lost history of global trade and punctures the mythology surrounding the benefits of unbridled free trade. A vital primer for anyone trying to understand the current trade debate.
—Chuck Collins, Institute for Policy Studies; co-author, The Moral Measure of the Economy
After reading Free Trade Doesn't Work, I now understand why so many of the trade agreements that we negotiated never delivered the promises that were made and, if continued, never will.
—Robert B. Cassidy, former Assistant U.S. Trade Representative for China and for Asia and the Pacific
It is standard for people in policy debates to be reflexive supporters of “free” trade. This book should help people to better understand what this means, so it may change some attitudes.
—Dean Baker, Co-Director, Center for Economic and Policy Research; author, False Profits: Recovering from the Bubble Economy.
This book is an instant classic that will be of use for many years, for it makes a major contribution to thinking on trade policy.
— Pat Choate, running mate of Ross Perot in 1996; Director, Manufacturing Policy Project; author, Dangerous Business: The Risks of Globalization for America
The world needs to localize, and fast. Instead of throwing out supply lines, we need to reel them in. This book helps show why.
—Bill McKibben, author Deep Economy: The Wealth of Communities and the Durable Future
Fletcher’s book opens up the arcane mysteries of free trade econ
omics for the ordinary reader and makes clear that the most up-to-date economics confirms that free trade has no justification in either history or present-day facts. It is a threat to the incomes of working people, to our environment, and to democratic sovereignty. Luckily, as he also points out, viable alternatives are available if the politicians would only wake up and take notice.
—Maude Barlow, Council of Canadians, co-author, Alternatives to Economic Globalization
You have written a bible for us. It is brilliant! You even cover issues I have been concerned about but never had time to discuss with anyone else. I started by reading it and ended by studying it. Am now going through it for the second time underlining and highlighting.