That the majority of examples of free trade agreements across the globe that the book references are well-established rather than recent, it is unlikely that the text will be obsolete in coming years. Changes, such as the enactment of new major trade deals or international trade guidelines and agreements, will be easy to insert into copies of the text in coming years.
The author thoughtfully acknowledges different perspectives on the debates surrounding free trade and protectionism, and does so across chapters rather than relegating the discussion to a single chapter. The author is also careful and consistent throughout the text in identifying both the strengths and limitations of the models presented.
The text also addresses current issues such as free trade area formation and administered protection policies. The models are developed, not by employing advanced mathematics, but rather by walking students through a detailed description of how a model's assumptions influence its conclusions. But more importantly, each model and theory is connected to real world policy issues.
The main purpose of the text is to provide a thorough grounding in the arguments concerning the age-old debate about free trade versus protectionism. This text has the following unique features: The text begins with an historical overview of trade policy issues to provide context for the theory. The text concludes with a detailed economic argument supporting free trade.The welfare analysis in the Ricardian, Heckscher-Ohlin and specific factors models emphasize the redistributive effects of free trade by calculating changes in real incomes.The trade policy chapter provides a comprehensive look at many more trade policies than are found in a printed textbook. 2b1af7f3a8