Book Review and Questions: 'The Walgreens T-Shirt'

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Preface: Why did the author decide to write this book? She decided to write the book about the Walgreen's T-shirt after speaking to anti-globalization activist. She decided to pick a product and track down its full life cycle to see exactly what insights it could provide. What did she expect to find when she began her journey what do most economists believe about globalization? She believed that free trade was more about economics and "markets". However, she discovered there were many other factors involved. How does she summarize her finding about markets and the T-shirt? She realized that trade was developed with historical and political webs of influence that are embedded in the market and are often hidden from economist. Part 1 King Cotton American cotton farmers have accomplished an extremely rare thing by keeping a comparative advantage in cotton farming in the US for over 200 years. Explain why this has happened there are two broad categories of reasons. At the end of the section (p. 64 and 65) she uses Thomas Friedman's metaphor of the gazelles and the lions it turns out that American cotton farmers are both. "The gazelles win by running faster and smarter than the competition, but the lions win by catching and eating their prey" The two reasons are subsidies and technological innovation. Without either of these Texas cotton production would have never survived. How have American cotton farmers insulated themselves from the "full strength of Market

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