A political scientist weighs the costs and benefits of private foreign investment for the United States and other countries, using a neo-mercantilist scale (and perhaps not even "neo"). He recommends selective controls and taxation to carry out a trade-dominated rather than an investment-dominated strategy for the United States. One does not have to agree with him to believe that the clarity of the argument, the fair statement of contrary views, and the comprehensiveness of the approach make this one of the best additions for some time to the literature of the multinationals.