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Pat Buchanan has written a nationalist manifesto, a ringing call to arms, a declaration of war on the globalists even in his own party.... The Great Betrayal: How American Sovereignty and Social Justice Are Being Sacrificed to the Gods of the Global Economy is vintage Buchanan, full of the cut-and-thrust we've come to expect from "Pitchfork Pat," the populist Prophet of Protectionism.
As unlikely as it would appear for a book devoted to economics, Betrayal is a real page-turner, an historical thriller. Pat goes at revisionism hammer and tong, retrieving the real story of America in the Gilded Age, restoring a balanced view of the robber barons and putting to flight the myth that the Smoot-Hawley tariff brought on the Great Depression, bread lines, Hoovervilles, Hitler and World War II.
The Great Betrayal from Pat Buchanan: Get it and read it!
- Sales Rank: #321681 in Books
- Published on: 1998-04-01
- Ingredients: Example Ingredients
- Original language: English
- Number of items: 1
- Dimensions: 9.50" h x 1.13" w x 6.38" l,
- Binding: Hardcover
- 384 pages
Most helpful customer reviews
22 of 25 people found the following review helpful.
We knew how to do it in the past ...but got led astray.
By Jerry Guild
Buchanan has exposed this modern age version of Free Trade for what it is ,a dumb sellout.A trade means to exchange for something comparable and the West has received nothing beneficial
in return for the loss of industries and jobs that have been moved to countries which use starvation wages and dismal human rights and conditions to produce the goods we have produced for many years.Leaving our workers without jobs and the country losing them as taxpayers.After all this, the goods are sold back here at prices no lower than if they had been made here.The idea that this would benefit the workers in these third world countries has been a fraud as the benefits have never been allowed to trickle down.
Free trade has been a monumental failure ,or as Buchanan claims a Betrayal.
The problem with what is going on now is that two Maxims are being ignored:
First;you should never trade for something that you've already got.
and
Second;You can't continue to trade with someone who has a lower standard of living than you have.It will only keep his low or bring yours down.
26 of 31 people found the following review helpful.
Solid, but not profound, defense of protectionism
By Greg Nyquist
Buchanan's book is a solid though not particularly profound or penetrating defense of protectionism The main thrust of Buchanan's argument is fairly simple. When the United States followed an unapologetically protectionist policy during the nineteenth century, the U.S. economy grew by leaps and bounds. But when the U.S began following a more liberal trade policy, the economy began to decline, especially within the manufacturing, heavy-industry sectors. Buchanan believes that a return to a more protectionist policy would reinvigorate the American economy.
Is Buchanan right? To a large degree. He is mostly right historically. Protectionism did accelerate the growth of the nation's industrial economy. Whether it can help the economy as it stands today is a more difficult question. Economists would have to develop a better understanding of all the economic and social ramifications of protectionism policy. Buchanan is correct in castigating the economic profession for its dogmatic views about free trade. But he has not exactly developed a convincing economic theory to explain why protectionism worked in the past. (He also, incidentally, erroneously tries to defend the protectionism of the twenties and thirties -- the one time in American history when protectionism made no sense.) I admit to finding it hard to regard protectionism as some sort of panacea. At the same time, it is clear that free trade is no panacea either, that both policies have clear problems and difficulties.
The fact remains that most arguments either for or against protectionism are not terribly convincing. The subject is not well understood, largely because the issue confuses moral problems with purely practical problems. Protectionism is a form of spoliation: it is the plunder of consumers on the behalf of specially favored producers. However, merely because protectionism involves what many economists regard as an immoral practice does not mean that it provides no real social utility. Protectionism can make it easier for producers to amass capital (usually a good thing) and it provides a less uncertain environment for investors and entrepreneurs (also a good thing). Moreover, it is critical that a nation protects its capital. The tendency for corporations in the U.S. to export capital abroad in order to take advantage of cheap labor is a very ominous development, and will lead to the decline of America if something is not done to limit or put a stop to it.
12 of 13 people found the following review helpful.
It's Not Too Late to Save Our Economic Wealth, Independence
By Amazon Customer
Buchanan explains how people who used to have manufacturing jobs in America are suffering financially because service jobs don't pay as well as manufacturing ones mainly because of the low profit margin in the service industry. Not all are going to be able to develop the computer skills to participate in the allegedly lucrative computer economy. There is a widening class division between such people and their tech-savvy counterparts who are making a lot more money. Buchanan brings out a lot of stats that show what a bad economic situation we're in, comparing it to the depression, which is a little hard to swallow-but to each his own stats and his interpretation of them. Through free trade, American workers are put into competition with foreign workers who make 50 cents an hour, have no benefits or environmental protection. American corporations have gone global, seeking cheap labor and ever higher profits. They no longer see themselves as American.
Buchanan likes history and often has a charming, folksy way of telling stories about historical events to make his points. He says that the founding fathers we're very much trade protectionists and kept their tariffs high to protect their industries and economic independence. Alexander Hamilton was the greatest intellectual founding father of economic nationalism and protectionism through the use of tariffs. Tariffs are also a nifty way of picking up revenue for government operations without having to institute an income tax on the people. As soon as tariffs began to be lowered around 1913, the income tax began, because the government has to get its money somewhere. Buchanan says that Adam Smith was not the free trader that free traders say he was. He says that protectionism of trade did not cause the depression and gives his evidence.
Buchanan is against the free traders who have lack loyalty to their nation but whose goal is to have the cheapest products imported by free trade. Free traders think that free trade promotes "WORLD PEACE" and they want to get rid of the nation state and have a global bureacracy take care of us all. They have an almost religious fervor about their free trade dogma and don't like people to say things against it. Buchanan states that having free trade does not make nations more peaceful and shows examples. Besides, nations like China and Japan do not practice free trade but they do take advantage of our free trade policies while they protect their industries and markets from imports. Free trade could be one of the reasons for the decline of the British Empire because they practiced it for so many years. John Maynard Keynes, the famous English economist, was once a avid free trader until he saw what economic damage it was doing to his country.
Buchanan suggests raising tariffs to protect our industries, especially our defense industries, so that we can remain economically independent and will be able to keep our military secrets hidden from other countries. Economic independence was one of the reasons the Revolutionary War was fought. Buchanan doesn't want to save the world--he knows it can't be done--he just wants to save American industry, which still can be done if tariffs are raised.
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