Trade is Not a Four-Letter Word by Fred P. Hochberg

TRADE IS NOT A FOUR-LETTER WORD is written by Fred P. Hochberg who has been involved with business and education his entire life: first, leading Lillian Vernon and more recently as President of the Export-Import Bank (2009-2017). In this new text, Hochberg entertainingly explores “How Six Everyday Products Make the Case for Trade.” Noting that “even your copy of this book was very likely assembled using products and processes procured from as many as a half dozen countries,” Hochberg first summarizes 300 years of American trade, provides an analysis of the objectives and politics related to NAFTA, and outlines eight myths (e.g., tariffs are paid by foreigners) associated with trade.

After that background, he offers a chapter on each of those six products: the taco salad, the Honda Odyssey, the banana, the iPhone, a college degree, and The Game of Thrones. These are filled with fascinating facts such as “the State Department estimates that almost 300 current or former world leaders have studied at American institutions,” taking advantage of what he says is arguably the most important export produced by the United States. Hochberg is clearly a proponent of trade and globalization, noting “were it not for a free flow of trade between countries, life in America would be substantially less interesting. Just as our palates have been broadened by imported cuisines from all over the world … our leisure time has been broadened by imported culture as well.” He provides numerous and varied examples to support his position, plus includes source notes and a helpful index. TRADE IS NOT A FOUR-LETTER WORD received a starred review from Library Journal and was described by Kirkus as a “rousing, well-argued defense of global trade in a time of isolationist entrenchment.” Look for it on our shelves.