Trade Wars

Civilization was built on trade, and without it nations decline and fall. Is America next?

"Trade wars."

This phrase dominates the headlines, elections, and political debates of our time.

But what, exactly, is a "trade war"?

Who pays the price when governments impose tariffs? And why have virtually all economists, from Adam Smith to today’s economists, so consistently defended free trade?

In Trade Wars, economists Scott A. Burns and Caleb S. Fuller cut through the rhetoric to explain one of the most misunderstood subjects in public life. Beginning with the simple insight that people trade because it makes them better off, they show how exchange, specialization, and cooperation transformed humanity from bare survival to modern prosperity. Readers will learn why trade is about far more than imports and exports: it is a cornerstone of human freedom, innovation, and peaceful cooperation.

Written for general readers, students, and policymakers alike, this primer offers a timely and compelling defense of one of civilization's greatest achievements: the freedom to choose our own trading partners.