All four presidents on Mt Rushmore were protectionists. p.18

Cordell Hull, architect of free trade, drafted the nation's first income tax. His idea was to replace tariffs--taxes on foreign imports--with taxes on Americans' income. p.22

"Protectionists prefer taxes on foreign goods, and free traders favor taxes on American incomes." p.22

By the 1990s customs duties that once produced 50-90 percent of U.S. revenue would yield 1-2 percent. p.23

Most Republicans yet recalled their tradition as the party that protected U.S. industries and American jobs. p.28

In 1955, the U.S. tried to convince Japan to end its protectionism. K. Otobe replied then the U.S. "would specialize in the production of automobiles and Japan in the production of tuna." When pressed to reduce tariffs on optical equipment, Otobe replied that his government "wished to advance the development of the Japanese optical industry." What about electrical equipment? "The Japanese Government believes that an electronics industry is essential to the development of the Japanese economy..." Otobe reminded the Americans of how American industry developed under the protection of tariffs. p. 30

Under protectionism, Japan's per capita income doubled from 1960 to 1967. p. 31

In the 1950s, the Americans proudly boasted of their magnanimity, but a Norwegian historian, Geir Lundestad, dissented. The United States, he wrote, is "organizing its own decline." p.32

Hitachi to all distributors: Win with the 10% rule...Find AMD and Intel sockets....Quote 10 percent below their price....If they requote, go 10

percent again...Don't quit till you win... p. 41

Deputy Treasury Secretary Richard Darman: "Why do we want a semiconductor industry? ...If our guys can't hack it, let 'em go." p.41

Austrian economist Ludwig von Mises enumerated 4 conditions necessary for the operation of a market economy. A trade zone with China fails all of the conditions. p. 49

A nation is more than a consumer cooperative; it is a people, separate and apart, with its own destiny and history, language and faith, institutions and culture. p. 51

No nation ever consumed its way to greatness or prosperity. p. 52

In 1913, the average duty was cut from 40% to 27% and the income tax was enacted. p. 236

Eight months after the crash, Congress passed Smoot-Hawley. Therefore Smoot-Hawley did not cause the crash. It raised tariff rates from 40% to 59%. p. 241

Smoot-Hawley applied to only one third of U.S. imports. p.245

Total imports in 1930 added up to only 4 percent of the GNP and Smoot-Hawley applied to only a third of that, or to 1.3 percent of the GNP. Is it conceivable that an increase in tariffs on 1.3 percent of the GNP triggered the collapse of five thousand banks, wiped out five-sixths of the stock market, caused a drop of 46 percent in the GNP, and sent unemployment soaring to 25 percent? p. 247

From 1929 to 1933, net exports fell by only $700 million while domestic spending declined by $47 billion. The declining exports was relatively insignificant. p. 247

Milton Friedman on Smoot-Hawley: "It played no significant role in either causing the depression or prolonging it." p. 252

A shift in taxation away from incomes, onto foreign goods, is how Bismarck built the German nation. p. 299

In 1880 Germany and the United States together had less than a fourth of world output. By 1913 the two countries had nearly half, while free-trade Britain's share was sliced from one-fourth to one-seventh. p. 299

Christopher Lasch: "Whatever its faults, middle-class nationalism provided a common ground, common standards, a common frame of reference without which society dissolves into nothing more than contending factions, as the Founding Fathers of America understood so well--a war of all against all." p. 325

Global free trade is a Faustian bargain. A nation sells its soul for a cornucopia of foreign goods. First the nation gives up its independence; then its sovereignty, and finally its birthright--nationhood itself. p. 72

Rudyard Kipling on U.S.-Canadian free trade zone in 1911: "How can 9 million people enter into such arrangements as are proposed with 90 million strangers on an open frontier of four thousand miles and at the same time preserve their national integrity? It is her own soul Canada risks today. Once that soul is pawned for any consideration Canada must inevitably conform to the commercial, legal, financial, social and ethical standards which will be imposed upon her by the sheer admitted weight of the United States." p. 73

NAFTA with Mexico means the gradual merger of the two economies. Eventually there must come a demand for open borders and a single currency. p. 74

Robert Bartley, the editor of the Wall Street Journal: "I believe the nation-state is finished." He advocates a five-word amendment to the Constitution: "There shall be open borders!" p. 74

The Japanese "miracle" was not produced by free trade; it is a product of economic nationalism. Why should the Japanese give up a trade policy that is working well for them, to adopt one that is failing for us? p. 88

In 1995, Roger Milliken's plant employing 680 workers burned down. The day of the fire, Milliken had directed his executives to fly in with a message for anyone who thought that his company would take the insurance money and run to Mexico: Roger Milliken was not walking away from La Grange, a company town where one in five workers is employed at on of seven Milliken plants. In half a year, Milliken told the people of La Grange, they would have up and operating on the site "a world-class textile plant with the most modern machines, systems and technology available in the world." p. 93

Republican platform 1972: "We deplore the practice of locating plants in foreign countries solely to take advantage of low wage rates in order to produce goods primarily for sale in the United States. We will take action to discourage such unfair and disruptive practices that result in the loss of American jobs. p. 103

(1840s) To David Ricardo's argument that we should abandon the home industry and rely on imports if a foreign nation could manufacture more cheaply, Friedrich List's reply was withering: "Who would be consoled for the loss of an arm by the knowing that he had nevertheless bought his shirts forty percent cheaper?" p. 195

Friedrich List: "Men were not a part of a global community, in which their interests harmonized in a network of international commerce and division of labor. Between man and humanity was the nation....Each nation had its own history, culture, stage of development and position of power relative to other nations in the world. And the economic prosperity of each man was tied up with the success or failure of his own nation's struggle for political and economic influence and control in the global competition between nation-states....For the nation's prosperity and betterment, it was often necessary for the individual to sacrifice his private interest in the arena of trade and profit opportunities for the national interest of the country to which he belonged." p. 195

Karl Marx 1848: "The Protective system...is conservative, while the Free Trade system works destructively. It breaks up old nationalities and carries antagonism of proletariat and bourgeoisie to the uttermost point. In a word, the Free Trade system hastens the Social Revolution. In this revolutionary sense alone, gentlemen, I am in favor of Free Trade." p. 197

Richard Armey, 1997: "We must recognize free trade as a basic human right." p. 232

Henry Clay: "If the governing consideration were cheapness, if national independence were to weigh nothing; if honor nothing; why not subsidize foreign powers to defend us; why not hire Swiss or Hessian armies to protect us? Why not get our arms of all kinds, as we do, in part, the blankets and clothing of our soldiers, from abroad?" p.199

James Madison, Speaker of the House, led the efforts to pass the Tariff Act of 1789. It was signed into law by George Washington. p. 131

Treasury Secretary Alexander Hamilton, 1791: "The wealth...independence and security of a Country, appear to be materially connected with the prosperity of manufactures. Every nation ...ought to endeavour to possess within itself all the essentials of national supply. These comprise the means of Subsistence, habitation, clothing, and defence." p.133

Thomas Jefferson, 1815: "The prohibiting duties we lay on all articles of foreign manufacture which prudence requires us to establish at home, with the patriotic determination of every good citizen to use no foreign article which can be made within ourselves, without regard to difference of price, secures us against a relapse into foreign dependency." p.141

Thomas Jefferson, 1816: "...experience has now taught me that manufactures are now as necessary to our independence as to our comfort..." p.141

Daniel Webster: "Protection...of our own labor against the cheaper, ill-paid, half-fed, and pauper labor of Europe, is, in my opinion, a duty which the country owes to its own citizens." p.136

American production of cloth--cut two-thirds by British dumping in 1816--grew an astonishing 1,650 percent within four years of Madison's tariff becoming law. p.144

Henry Clay: "Poverty befalls any nation that neglects and abandons the care of its own industry, leaving it exposed to the action of foreign powers--there is a remedy and that consists in --adopting a Genuine American System accomplished by the establishment of a tariff--with the view of promoting American industry--the cause is the cause of the country, and it must and it will prevail."

Andrew Jackson: "...a careful and judicious tariff is much wanted." p.148

Abraham Lincoln, 1847: "Abandonment of the protective policy by the American Government must result in the increase of both useless labour, and idleness; and so, in proportion must produce want and ruin among our people." p. 156

John Maynard Keynes, in the face of the Great Depression, recanted his free-trade views in 1930, and recommended a tariff to cut imports and boost employment. p. 203