"From Free Trade to Forced Trade" by Peter Urmetzer presents free trade as a neutral concept, emphasizing its potential benefits and drawbacks. The author argues that free trade, rooted in the principle of comparative advantage, enables countries to specialize in industries where they are most efficient. This specialization leads to overall economic benefits, such as lower prices and increased efficiency, as countries can focus on their strengths while importing goods that others produce more effectively. However, the book also acknowledges the negative consequences, such as job losses in certain industries, exemplified by the decline of the US steel industry. Ultimately, Urmetzer suggests that while free trade can enhance global economic dynamics, it also presents challenges that must be addressed.
