Global Free Trade Error

Ron Baiman teaches economics in the MBA program at Benedictine University, U.S. He has written numerous academic and policy papers, served for many years on the Editorial Board of the Review of Radical Political Economics, and is the author of The Morality of Radical Economics: Ghost Curve Ideology and the Value Neutral Aspect of Neoclassical Economics, and co-author and co-editor of the Choice award winning collection: Political Economy and Contemporary Capitalism.

• List of figures List of tables Acknowledgements 1 Introduction PART I The illogical foundations of free trade ideology 2 The infeasibility of free trade in classical theory: Ricardo’s comparative advantage parable has no solution 3 The limits of free trade in Neoclassical theory: from Heckscher-Ohlin to unequal exchange 4 Globally sustainable and balanced international trade based on exchange-rate adjustment is mathematically unstable and therefore economically infeasible PART II The logical (and moral) foundations of unequal exchange trade theory 5 Unequal exchange without a labor theory of prices: on the need for a global Marshall Plan and solidarity trading regime 6 Unequal exchange and the rentier economy PART III Globalization that supports human and planetary well-being 7 Toward a new political economy for the U.S. 8 There is no alternative to managed global trade Index

‘The doctrine of "free trade" is second only to that of "free markets" in undergirding ideological support for our current global economic structures and rules. The Global Free Trade Error provides a detailed analysis of these foundational models and counter-poses these to alternative Neo-Marxist "unequal exchange" models of global trade and finance.’ — www.urpe.org (February 20, 2017)