AMERICA IN THE MARKET PLACE by Sen. Paul Douglas

AMERICA IN THE MARKET PLACE

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KIRKUS REVIEW

The role of the United States in international trade is disclosed and discussed in a book that demands close attention on the part of interested, and concerned, citizens. To the uninitiated, the perilous decline in our gold balance, the unfavorable picture of our balance in trade, the whip handle France holds over us, the East-West trade problems, the question of trade with Red China, with Cuba, etc., etc. seem incomprehensible in view of our national wealth, our high taxes, our worldwide generosity. Douglas sets the problem against a concise history of trade and tariffs; he delves into diplomatic implications; talks about the Common Market--and the exclusion of Great Britain; the European Free Trade Association; the various steps taken to come to terms--reciprocal trade agreements, the Dillon Round, the American Trade Expansion Act, the Kennedy Round; and the ever deepening involvement in aid and loans. Britain's difficulties are explored. In the final chapter he investigates various steps in trade and monetary policies, and the theory of an international currency. Then follow his own recommendations for public policy: the broadest possible unrestricted trade, with constructive rivalry and trade alliances; caution in regard to Russia, Red China, Cuba; reduction of foreign aid, economic and military, where relations remain barbed; and finally, a new international body, subdivision of the International Monetary Fund, to create monetary purchasing power and stabilize international finance. We cannot wait too long or it may be fatal. An important and timely book.

Pub Date: July 25th, 1966
Publisher: Holt, Rinehart & Winston