Don Boudreaux on Globalization and Trade Deficits

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4.7 • 4.3K Ratings

🗓️ 21 January 2008

⏱️ 80 minutes

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Summary

Don Boudreaux, of George Mason University, talks about the ideas in his book, Globalization. He discusses comparative advantage, the winners and losers from trade, trade deficits, and inequality with EconTalk host Russ Roberts.

Transcript

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0:00.0	Welcome to Econ Talk, part of the Library of Economics and Liberty. I'm your host Russ Roberts
0:13.9	of George Mason University and Stanford University's Hoover Institution. Our website is econtalk.org
0:21.2	where you can subscribe, find other episodes, comment on this podcast, and find links to
0:26.5	other information related to today's conversation. Our email address is mailadicontalk.org. We'd
0:33.6	love to hear from you. Before I introduce today's guest, I want to mention that there will be
0:40.0	a brief post script at the end of day's podcast on an issue raised in last week's podcast with Mike
0:45.2	Munger about shopping malls and department stores. My guest today is Don Boudreau, chair of the
0:51.1	Department of Economics at George Mason University and my colleague here. Don blogs with me at
0:56.3	cafehighack.com and he is the author of the recently published globalization, the topic of our
1:03.2	conversation today. Don, welcome back to Econ Talk. Thanks Russ. Good to be here as always.
1:07.8	Before we begin, I'd like to say just a quick word about the book. The book is published by Greenwood
1:13.5	Press, just came out within the month. It's priced. It's only available in the hard back. It's
1:18.8	priced at $55. $55. Don, you're such a gouger. Yeah, well, I did not set the price. That's the
1:25.2	publisher's price. I wish it were 1-10th, 1-20th of what it is. I didn't write the book to make
1:33.5	money. I suspect even at that price I'm not going to make much money. I wrote the book to be read.
1:39.2	And so I just want to tell people that I'm not the blame for the price. The Greenwood Press series,
1:46.4	it's in a series and they have some market that they're trying to appeal to. Obviously, it's not
1:51.6	the mass market. The price is not my fault. Just two comments on that, John. First of all,
1:57.7	I think some readers are under the impression that a $55 book, maybe $30 of that goes to the author,
2:05.1	but I can reassure our listeners or assure them, which I mean, or upset them. I don't know
2:11.3	how you feel about it, but most authors get a very, very small fraction of the retail price of
2:16.9	the book because there are many other costs, which are not obvious to the reader about producing the
	...

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