Hufbauer and Schott discuss in this book how a Free Trade Agreement that includes the whole Western Hemisphere would bring economic growth and efficiency to the Latin American countries. Despite the size of the book, it has plenty of information on the historical precedents for economic integration as well as the current initiatives. In my modest opinion, the most novel aspect of this book is the manner in which the authors display the construction of several indexes. This is not a common method in the current economic literature where it is almost always assumed that the reader either does not care or already knows how the calculations are made. The fact that the authors carefully displayed their "analytical tools" makes this book incredible attractive for students interested in trade liberalization and its analysis. I highly recommend another book written by the same authors "NAFTA: An assesment"