In This Review

Trade Is Not a Four-Letter Word: How Six Everyday Products Make the Case for Trade
Trade Is Not a Four-Letter Word: How Six Everyday Products Make the Case for Trade
By Fred P. Hochberg
336 pp, Avid Reader Press, 2020
Purchase

Hochberg, a former president of the U.S. Export-Import Bank, makes a vigorous case for foreign trade in both goods and services, which he claims enriches American lives and creates better jobs. He examines six familiar products—taco salad, automobiles (the Honda Odyssey incorporates the highest share of U.S. labor of any car), bananas (the most consumed fruit by far), iPhones, college education, and entertainment (especially the TV show Game of Thrones)—to demonstrate how foreign trade is a pervasive and invaluable part of modern life. He effectively debunks many myths about trade, including the misguided belief that bilateral trade deficits are harmful. His book is an easy and enjoyable read, drawing predominately on American examples but applicable to many other countries, as well.