[american spirit]

I own an electronics co. and have seen the entire domestic electronics industry devastated by the effects of our flawed free trade policy. We've lost whole industries to offshore competition that's either subsidized by their host gov't or utilizes virtual slave labor to garner sizable
(if not all) marketshare of their specialty product. What's been the effects on our economy? Smaller trade deficits?....no, much larger and increasing monthly. More jobs for our economy?....no, quality high tech jobs are disappearing perhaps forever at an alarming rate. More wealth?....no, debt is soaring at the personal, coporate and gov't. level to levels that would've seemed absurd just a few years ago.

Did sending jobs to Mexico stem illegal immigration as promised?...no, illegal immigration has increased exponentially with no end in sight. Now we have a wonderful scenario where many co's can import cheap labor and pay them minimal wages, EVADE MANY PAYROLL TAXES becasue they know full well the taxes paid us suckers will assist their housing, food, medical, etc. needs. I'm not sure what the intent of this book you're talking about may be but I would sure like to see you refute anything I've said that might prove free trade to be a net benefit to our economy.

[Just mythoughts]

"Free Trade" implies one is free to make and produce, trade with whom and wherever.

However, prior to that "FREE TRADE" agreement something happpened, the largest tax increase in history.

"Lost whole industries to offshore competition that's either subsidized by their host gov't or utilizes virtual slave labor to garner".....

Taxation of half of ones earnings in a supposed "FREE" country cannot be anything more than slavery. We the "FREE" people have been seduced into believing that "government" knows better how to care for us.

Taxation is the first step in causing harm to an economy.

When government takes from producers earnings, controlls wages, health care costs, and regulates how and where business can do business, certainly cannot be called "free" for anyone.

Goverment is suppose to "PROMOTE THE GENERAL WELFARE" not control it.

[Magoo]

We've lost whole industries to offshore competition that's either subsidized by their host gov't or utilizes virtual slave labor to garner sizable (if not all) marketshare of their specialty product.

So we move our capital and human resources into more efficient and advanced technologies. There is always short-term pain, for long term gain in becoming more efficient. Look at the world auto industry for examples.

Smaller trade deficits?....no, much larger and increasing monthly.

We benefit from getting as large a volume of imports as possible in return for the amount of exports, or equivalently, from exporting as little as possible to pay for the imports. The way the term deficit is expressed in foreign trade is a misnomer.

More jobs for our economy?....no, quality high tech jobs are disappearing perhaps forever at an alarming rate. More wealth?.

Unemployment hit 25% in 1933, it now stands at 5.8% and that number is skewed terribly by the welfare state. Americans are the richest people on earth and getting richer in spite of the stock market and trade deficits. We do have the high skilled jobs as measured by the fact we are still the most productive people on earth too.

debt is soaring at the personal, coporate and gov't. level to levels that would've seemed absurd just a few years ago.

Personal debt is soaring, Yes. But national debt is far less than it was as a % of GDP in 1979. With low interest rates the Government has refinanced a considerable amount of the federal debt as well. Corporate debt is used to leverage productivity gains, as you know.

Did sending jobs to Mexico stem illegal immigration as promised?...no, illegal immigration has increased exponentially with no end in sight.

Half of your point is lost in the fact that they still keep coming. This must be the land of opportunity. It also happens to be one of the freest (socialist) nations on earth. As far as the strain the illegals place on government services, I agree. Call your state legislators.

I sympathize with your challenge of having your capital assets tied up in the electronics industry if you feel threatened by competition. You clearly need to risk moving what capital assets you have left into a more promising endeavor if you fear losing your patrons to competition from abroad.

I would have to write all day to express what you don't seem to grasp. Your current beliefs about economics are the very reason countries turn into protectionist, insular, unproductive, socialist states. I'm sorry if recommending a book on economics with detailed empirical evidence to prove my point offends you too.