International trade : what everyone needs to know Anne O. Krueger

Includes bibliography and index

Foreign trade in world history -- Trade policy -- How much and what does the US trade? -- The case for free trade -- What's wrong with protection -- Do trade deficits matter -- Does trade hurt American jobs? -- What about currency manipulation? -- Case studies of protection for manufacturing industries -- How much protection is there in agriculture? -- The GATT/WTO --Trade remedies -- Gray areas -- Preferential trading arrangements -- The EU and Brexit NAFTA and USMCA -- The TPP and the CPTTP -- Developing countries -- China -- Helping the unemployed -- The political economy of trade policy -- The future of international trade.

"In all countries, there are laws and regulations affecting private economic activity. They are necessary to enable private economic activity to thrive, as well as to provide for honesty in information), consumer protection, and much more. Laws and regulations, such as safety standards, quality grades, and health and food (phytosanitary) standards generally apply to much economic activity within a country. In very primitive societies when farming or hunting was almost all economic activity, such measures were much less necessary. But as exchanges and trading increased, the need to find ways to support transactions became essential in order to enable parties to agree on even such things as simple weights and measures. Until there was a commercial code (legal framework), most businesses were owned primarily by family members who could trust each other. The commercial codes covered such phenomena as penalties against breach of contract, standards and assurances as to the quality and ingredients of goods being contracted, and penalties for their infringement, and so on. Note that even a rudimentary contract would likely have needed an understanding as to weights and measures, definition of materials, and much more".