In no other area is gulf of opinion between economists and the general public wider than in the field of free trade. While economists nearly unanimously embrace the idea that free trade increases choices, lowers prices, and raises real incomes for citizens in the countries involved, a significant percentage of the general public endorses all sorts of protectionist policies including tariffs, export subsidies, and import quotas. Economists face an uphill battle in convincing a skeptical public of the merits of free trade for one simple reason: free trade does not benefit everyone equally, resulting in both winners and losers. Furthermore, although the benefits of free trade nearly always outweigh the losses, the losses from free trade, such as unemployment caused by factories moving overseas, are more obvious to the casual observer than the myriad of quite real but hidden benefits such as increased product quality, lower prices, and higher exports.

Picking up the banner of economic freedom in international trade is Jagdish Bhagwati, widely considered by academic economists to be the world's foremost spokesperson for free trade and a likely future winner of the Nobel Prize in Economics. In his newest book, "Free Trade Today," he attempts, with a great deal of success, to bridge the gap between perception and reality in the case of international trade.

This short and imminently readable book is based on a series of three lectures he gave at the Stockholm School of Economics in the late 1990s. As such, the book is divided into three chapters: an examination of the historical case for free trade, a look at the current objections to free trade voiced by the motley assortment of protesters at any international economics meeting nowadays, and suggestions about how to achieve the goal of increased international economic cooperation in today's political climate.

The book is most successful in addressing the current crop of threats to free trade. The general public's attention may stray during the first chapter where Bhagwati examines the protectionist arguments of economists from the distant past. Indeed, for the first 45 pages, the book reads much more like a history of economic thought textbook rather than a forward-looking policy statement.

The final two chapters, however, are a gem. When Bhagwati reaches the modern day, he masterfully dispels each and every protectionist argument, from labor standards to environmental issues, point by point. What's more, he does not dismiss these concerns as unimportant concerns that should be ignored for the sake of market efficiency. Rather he explains how workers and the environment in poor nations and rich nations alike benefit from a free flow of goods and services across borders. Those who have a general sympathy for the plight of low-paid foreign workers will appreciate Bhagwati's empathy for the world's less fortunate. He convincingly argues that those demonstrators who picket multinational corporations who "exploit" workers in third-world countries are doing an actual disservice to those on whose behalf they protest. How else are poor countries going to develop if they cannot import goods and capital from technologically advanced nations?

Professor Bhagwati offers many unconventional ideas for promoting free trade. Among the more interesting suggestions he makes is to require American companies that have subsidiaries in foreign countries to adhere to American labor and environmental laws in these factories. Most multinationals manage their overseas operations by the same standards that apply in their home countries anyway. Mandating cross-border standards would therefore not affect most international firms and would remove one of the primary (though ultimately erroneous) objections to free trade. Bhagwati also warns against regional free-trade agreements such as the European Union, NAFTA, and Mercosur arguing that these alliances too often simply lead the countries involved to raise barriers to trade against countries outside of the region. They also tend to distract attention from the far more important cause of lowering worldwide tariffs and trade barriers.

This book can be read either as a concise refresher on free trade for those well versed in the field or as an excellent introduction to the field. Either way, "Free Trade Today" makes an outstanding addition to the library of any advocate of the free-market.