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McGee takes the position that the only proper trade policy is one of total, immediate, and unilateral free trade, since such a policy is the only one that is consistent with individual rights. He also explodes the myth that trade deficits are bad and advocates the repeal of the antidumping laws, incorporating rights theory as well as utilitarian arguments. This book is unique in that it (1) does not limit itself to utilitarian arguments, (2) explains why trade deficits are irrelevant, and (3) calls for immediate repeal of the antidumping laws. Part I discusses the philosophy of protectionism and reviews nearly two dozen arguments that projectionists have used to restrict trade. A whole chapter is devoted to exploding the myth that trade deficits are bad. Part II elaborates on the monetary and nonmonetary costs of protectionism. Part III addresses the philosophy and practice of antidumping policy in the United States, and shows why the policy is irrational, destructive and anti-consumer, and concludes that repeal rather than reform is called for. Part IV discusses other issues, such as the policy options for Europe, the effect of competition on prices and efficiency, the stages of economic development and their connection to trade policy, and the irrationality of the United States trade policy toward Eastern Europe.
Book Synopsis A Trade Policy for Free Societies by : Robert McGee
Download or read book A Trade Policy for Free Societies written by Robert McGee and published by Praeger. This book was released on 1994-08-16 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: McGee takes the position that the only proper trade policy is one of total, immediate, and unilateral free trade, since such a policy is the only one that is consistent with individual rights. He also explodes the myth that trade deficits are bad and advocates the repeal of the antidumping laws, incorporating rights theory as well as utilitarian arguments. This book is unique in that it (1) does not limit itself to utilitarian arguments, (2) explains why trade deficits are irrelevant, and (3) calls for immediate repeal of the antidumping laws. Part I discusses the philosophy of protectionism and reviews nearly two dozen arguments that projectionists have used to restrict trade. A whole chapter is devoted to exploding the myth that trade deficits are bad. Part II elaborates on the monetary and nonmonetary costs of protectionism. Part III addresses the philosophy and practice of antidumping policy in the United States, and shows why the policy is irrational, destructive and anti-consumer, and concludes that repeal rather than reform is called for. Part IV discusses other issues, such as the policy options for Europe, the effect of competition on prices and efficiency, the stages of economic development and their connection to trade policy, and the irrationality of the United States trade policy toward Eastern Europe.
Download or read book Protectionism written by Jan Tumlir and published by AEI Studies. This book was released on 1985 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
McGee takes the position that the only proper trade policy is one of total, immediate and unilateral free trade, since such a policy is the only one that is consistent with individual rights. This book is unique in that it (1) does not limit itself to utilitarian arguments, (2) explains why trade deficits are irrelevant, and (3) calls for immediate repeal of the antidumping laws. Part I discusses the philosophy of protectionism and reviews nearly two dozen arguments that projectionists have used to restrict trade. A whole chapter is devoted to exploding the myth that trade deficits are bad. Part II elaborates on the monetary and nonmonetary costs of protectionism. Part III addresses the philosophy and practice of antidumping policy in the United States, and shows why the policy is irrational, destructive and anti-consumer, and concludes that repeal rather than reform is called for. Part IV discusses other issues, such as the policy options for Europe, the effect of competition on prices and efficiency, the stages of economic development and their connection to trade policy, and the irrationality of the United States trade policy toward Eastern Europe.
Book Synopsis A Trade Policy for Free Societies by : Robert W. McGee
Download or read book A Trade Policy for Free Societies written by Robert W. McGee and published by . This book was released on 1994 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: McGee takes the position that the only proper trade policy is one of total, immediate and unilateral free trade, since such a policy is the only one that is consistent with individual rights. This book is unique in that it (1) does not limit itself to utilitarian arguments, (2) explains why trade deficits are irrelevant, and (3) calls for immediate repeal of the antidumping laws. Part I discusses the philosophy of protectionism and reviews nearly two dozen arguments that projectionists have used to restrict trade. A whole chapter is devoted to exploding the myth that trade deficits are bad. Part II elaborates on the monetary and nonmonetary costs of protectionism. Part III addresses the philosophy and practice of antidumping policy in the United States, and shows why the policy is irrational, destructive and anti-consumer, and concludes that repeal rather than reform is called for. Part IV discusses other issues, such as the policy options for Europe, the effect of competition on prices and efficiency, the stages of economic development and their connection to trade policy, and the irrationality of the United States trade policy toward Eastern Europe.
The balancing of competing interests and goals will have momentous consequences for Japan—and the United States—in their quest for economic growth, social harmony, and international clout. Japan and the United States face difficult choices in charting their paths ahead as trading nations. Tokyo has long aimed for greater decisiveness, which would allow it to move away from a fragmented policymaking system favoring the status quo in order to enable meaningful internal reforms and acquire a larger voice in trade negotiations. And Washington confronts an uphill battle in rebuilding a fraying domestic consensus in favor of internationalism essential to sustain its leadership role as a champion of free trade. In Dilemmas of a Trading Nation, Mireya Solís describes how accomplishing these tasks will require the skillful navigation of vexing tradeoffs that emerge from pursuing desirable, but to some extent contradictory goals: economic competitiveness, social legitimacy, and political viability. Trade policy has catapulted front and center to the national conversations taking place in each country about their desired future direction—economic renewal, a relaunched social compact, and projected international influence. Dilemmas of a Trading Nation underscores the global consequences of these defining trade dilemmas for Japan and the United States: decisiveness, reform, internationalism. At stake is the ability of these leading economies to upgrade international economic rules and create incentives for emerging economies to converge toward these higher standards. At play is the reaffirmation of a rules-based international order that has been a source of postwar stability, the deepening of a bilateral alliance at the core of America's diplomacy in Asia, and the ability to reassure friends and rivals of the staying power of the United States. In the execution of trade policy today, we are witnessing an international leadership test dominated by domestic governance dilemmas.
Book Synopsis Dilemmas of a Trading Nation by : Mireya Solis
Download or read book Dilemmas of a Trading Nation written by Mireya Solis and published by Brookings Institution Press. This book was released on 2017-08-01 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: The balancing of competing interests and goals will have momentous consequences for Japan—and the United States—in their quest for economic growth, social harmony, and international clout. Japan and the United States face difficult choices in charting their paths ahead as trading nations. Tokyo has long aimed for greater decisiveness, which would allow it to move away from a fragmented policymaking system favoring the status quo in order to enable meaningful internal reforms and acquire a larger voice in trade negotiations. And Washington confronts an uphill battle in rebuilding a fraying domestic consensus in favor of internationalism essential to sustain its leadership role as a champion of free trade. In Dilemmas of a Trading Nation, Mireya Solís describes how accomplishing these tasks will require the skillful navigation of vexing tradeoffs that emerge from pursuing desirable, but to some extent contradictory goals: economic competitiveness, social legitimacy, and political viability. Trade policy has catapulted front and center to the national conversations taking place in each country about their desired future direction—economic renewal, a relaunched social compact, and projected international influence. Dilemmas of a Trading Nation underscores the global consequences of these defining trade dilemmas for Japan and the United States: decisiveness, reform, internationalism. At stake is the ability of these leading economies to upgrade international economic rules and create incentives for emerging economies to converge toward these higher standards. At play is the reaffirmation of a rules-based international order that has been a source of postwar stability, the deepening of a bilateral alliance at the core of America's diplomacy in Asia, and the ability to reassure friends and rivals of the staying power of the United States. In the execution of trade policy today, we are witnessing an international leadership test dominated by domestic governance dilemmas.
Americo Beviglia Zampetti s Fairness in the World Economy provides an important lens into understanding fairness debates in contemporary trade discourse. . . an important contribution to the trade literature. . . the historical excavation that Fairness in the World Economy provides is of great value. Students and scholars alike will find Zampetti s clear and concise history of US trade policy from the founding to the present to be extremely useful. More importantly, at a time when there is widespread argument that too few share in [globalization s] benefits [and] too many have no voice in its design and no influence on its course, Fairness in the World Economy invites its readers to consider the adequacy of the level playing field notion of fairness and to grapple with the politically contentious question of how trade can help create a more just international economic order. Jeffrey L. Dunoff, The American Journal of International Law This is an unusually timely and insightful work, addressing the crucial issue of the justice of globalization. The author avoids the polemics and abstractions with which this question is usually treated; his economic literacy as well as hands-on policy experience in international and transnational institutions, make this a uniquely practical, balanced and nuanced account, bringing much clarity to a heated debate, which usually divides the different disciplines and specialities rather than inciting their engagement. Robert L. Howse, University of Michigan, Ann Arbor, US This volume describes the birth (with all the birth defects) of the notion of fairness in the US. The extent of the author's research is quite breathtaking: not only does he delve into an infinite series of official and semi-official documents, but he also looks at case law, opinions expressed in the literature etc., to come up with an expression of (US) fairness that does not suffer from selection bias. But this is only half what the author has accomplished through his work. He goes on to examine how US fairness has been exported to international institutions (such as the GATT/WTO regime) and demonstrates how, once discussed and shaped among all trading partners, it has come back to the US in a different form. The book thus provides both the inside out and the outside in perspective. It will prove invaluable for the political scientist, the economic historian and the lawyer alike. Petros C. Mavroidis, Edwin B. Parker Professor of Law, Columbia Law School, US and University of Neuchatel, Switzerland & CEPR This book represents a significant scholarly contribution to the field of international political economy, with particular respect to the evolution of the multilateral trading system. The author engages effectively with the current debate concerning the conflict between the legalistic foundations of the multilateral trading system underpinned by the equality of nation states and the demands for fair trade on the basis of inter-personal equity. It is a coherent and well-researched book on a critically important issue that has not received the significant attention that it deserves within the field of international trade policy. Robert Read, Lancaster University Management School, UK In an international context, fairness is particularly important, since only a system which is perceived by its participants as fair can command acceptance and compliance. The main focus of this study is to investigate the development of the notion of fairness in US trade policy and law as well as the impact this notion has on international trade discussions and rule-making, and especially on the formation of the multilateral trade regime. The contention of the author, Americo Beviglia Zampetti, is that fairness concerns, which have been present in the US trade policy debates and treaty practice since the Republic s inception, have contributed to shaping these debates and practice over the years, both at home and abroad. These concerns were
Book Synopsis Fairness in the World Economy by : Americo Beviglia Zampetti
Download or read book Fairness in the World Economy written by Americo Beviglia Zampetti and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: Americo Beviglia Zampetti s Fairness in the World Economy provides an important lens into understanding fairness debates in contemporary trade discourse. . . an important contribution to the trade literature. . . the historical excavation that Fairness in the World Economy provides is of great value. Students and scholars alike will find Zampetti s clear and concise history of US trade policy from the founding to the present to be extremely useful. More importantly, at a time when there is widespread argument that too few share in [globalization s] benefits [and] too many have no voice in its design and no influence on its course, Fairness in the World Economy invites its readers to consider the adequacy of the level playing field notion of fairness and to grapple with the politically contentious question of how trade can help create a more just international economic order. Jeffrey L. Dunoff, The American Journal of International Law This is an unusually timely and insightful work, addressing the crucial issue of the justice of globalization. The author avoids the polemics and abstractions with which this question is usually treated; his economic literacy as well as hands-on policy experience in international and transnational institutions, make this a uniquely practical, balanced and nuanced account, bringing much clarity to a heated debate, which usually divides the different disciplines and specialities rather than inciting their engagement. Robert L. Howse, University of Michigan, Ann Arbor, US This volume describes the birth (with all the birth defects) of the notion of fairness in the US. The extent of the author's research is quite breathtaking: not only does he delve into an infinite series of official and semi-official documents, but he also looks at case law, opinions expressed in the literature etc., to come up with an expression of (US) fairness that does not suffer from selection bias. But this is only half what the author has accomplished through his work. He goes on to examine how US fairness has been exported to international institutions (such as the GATT/WTO regime) and demonstrates how, once discussed and shaped among all trading partners, it has come back to the US in a different form. The book thus provides both the inside out and the outside in perspective. It will prove invaluable for the political scientist, the economic historian and the lawyer alike. Petros C. Mavroidis, Edwin B. Parker Professor of Law, Columbia Law School, US and University of Neuchatel, Switzerland & CEPR This book represents a significant scholarly contribution to the field of international political economy, with particular respect to the evolution of the multilateral trading system. The author engages effectively with the current debate concerning the conflict between the legalistic foundations of the multilateral trading system underpinned by the equality of nation states and the demands for fair trade on the basis of inter-personal equity. It is a coherent and well-researched book on a critically important issue that has not received the significant attention that it deserves within the field of international trade policy. Robert Read, Lancaster University Management School, UK In an international context, fairness is particularly important, since only a system which is perceived by its participants as fair can command acceptance and compliance. The main focus of this study is to investigate the development of the notion of fairness in US trade policy and law as well as the impact this notion has on international trade discussions and rule-making, and especially on the formation of the multilateral trade regime. The contention of the author, Americo Beviglia Zampetti, is that fairness concerns, which have been present in the US trade policy debates and treaty practice since the Republic s inception, have contributed to shaping these debates and practice over the years, both at home and abroad. These concerns were
Trade flows and trade policies need to be properly quantified to describe, compare, or follow the evolution of policies between sectors or countries or over time. This is essential to ensure that policy choices are made with an appropriate knowledge of the real conditions. This practical guide introduces the main techniques of trade and trade policy data analysis. It shows how to develop the main indexes used to analyze trade flows, tariff structures, and non-tariff measures. It presents the databases needed to construct these indexes as well as the challenges faced in collecting and processing these data, such as measurement errors or aggregation bias. Written by experts with practical experience in the field, A Practical Guide to Trade Policy Analysis has been developed to contribute to enhance developing countries' capacity to analyze and implement trade policy. It offers a hands-on introduction on how to estimate the distributional effects of trade policies on welfare, in particular on inequality and poverty. The guide is aimed at government experts engaged in trade negotiations, as well as students and researchers involved in trade-related study or research. An accompanying DVD contains data sets and program command files required for the exercises. Copublished by the WTO and the United Nations Conference on Trade and Development
Book Synopsis A Practical Guide to Trade Policy Analysis by : Marc Bacchetta
Download or read book A Practical Guide to Trade Policy Analysis written by Marc Bacchetta and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade flows and trade policies need to be properly quantified to describe, compare, or follow the evolution of policies between sectors or countries or over time. This is essential to ensure that policy choices are made with an appropriate knowledge of the real conditions. This practical guide introduces the main techniques of trade and trade policy data analysis. It shows how to develop the main indexes used to analyze trade flows, tariff structures, and non-tariff measures. It presents the databases needed to construct these indexes as well as the challenges faced in collecting and processing these data, such as measurement errors or aggregation bias. Written by experts with practical experience in the field, A Practical Guide to Trade Policy Analysis has been developed to contribute to enhance developing countries' capacity to analyze and implement trade policy. It offers a hands-on introduction on how to estimate the distributional effects of trade policies on welfare, in particular on inequality and poverty. The guide is aimed at government experts engaged in trade negotiations, as well as students and researchers involved in trade-related study or research. An accompanying DVD contains data sets and program command files required for the exercises. Copublished by the WTO and the United Nations Conference on Trade and Development
Despite the passage of NAFTA and other recent free trade victories in the United States, former U.S. trade official Alfred Eckes warns that these developments have a dark side. Opening America's Market offers a bold critique of U.S. trade policies over the last sixty years, placing them within a historical perspective. Eckes reconsiders trade policy issues and events from Benjamin Franklin to Bill Clinton, attributing growing political unrest and economic insecurity in the 1990s to shortsighted policy decisions made in the generation after World War II. Eager to win the Cold War and promote the benefits of free trade, American officials generously opened the domestic market to imports but tolerated foreign discrimination against American goods. American consumers and corporations gained in the resulting global economy, but many low-skilled workers have become casualties. Eckes also challenges criticisms of the 'infamous' protectionist Smoot-Hawley Tariff Act of 1930, which allegedly worsened the Great Depression and provoked foreign retaliation. In trade history, he says, this episode was merely a mole hill, not a mountain.
Book Synopsis Opening America's Market by : Alfred E. Eckes Jr.
Download or read book Opening America's Market written by Alfred E. Eckes Jr. and published by Univ of North Carolina Press. This book was released on 2000-11-09 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the passage of NAFTA and other recent free trade victories in the United States, former U.S. trade official Alfred Eckes warns that these developments have a dark side. Opening America's Market offers a bold critique of U.S. trade policies over the last sixty years, placing them within a historical perspective. Eckes reconsiders trade policy issues and events from Benjamin Franklin to Bill Clinton, attributing growing political unrest and economic insecurity in the 1990s to shortsighted policy decisions made in the generation after World War II. Eager to win the Cold War and promote the benefits of free trade, American officials generously opened the domestic market to imports but tolerated foreign discrimination against American goods. American consumers and corporations gained in the resulting global economy, but many low-skilled workers have become casualties. Eckes also challenges criticisms of the 'infamous' protectionist Smoot-Hawley Tariff Act of 1930, which allegedly worsened the Great Depression and provoked foreign retaliation. In trade history, he says, this episode was merely a mole hill, not a mountain.
American Supporters of free trade are on the defensive. Record U.S. trade deficits are fueling demands from industry, Congress, and the public for tariffs, import quotas, and other protectionist measures that could reverse America's long-standing commitment to open markets and sacrifice much of the economic progress experienced in recent years. In Saving Free Trade: A Pragmatic Approach, Robert Z. Lawrence and Robert E. Litan analyze both the allure of protectionism and the problems associated with free trade, proposing reasonable, cost-effective ways of helping industries, workers, and communities battered by intense import competition. The book focuses on the escape clause of the U.S. Trade Act of 1974, meant to provide domestic industries temporary shelter from severe import competition, and the trade adjustment assistance program, designed to provide direct aid to companies, workers, and communities injured by imports. The authors analyze the assumptions and implication of the many currentcongressional attempts to amend the provisions of the escape clause and the assistance program. They then set forth their own proposals, including new definitions of import injuries, modifications of provisions for providing relief for beleaguered companies, new standards for compensating and retaining displaced workers, and a plan for insuring communities against severe losses to their tax bases if local industries fail because they can no longer compete. Saving Free Trade provides a detailed but nontechnical introduction to the complex implications of amending trade policy and shrewd, innovative proposals for improving America's ability to adapt to rapid changes in world markets.
Book Synopsis Saving Free Trade by : Robert Z. Lawrence
Download or read book Saving Free Trade written by Robert Z. Lawrence and published by Brookings Institution Press. This book was released on 1986 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: American Supporters of free trade are on the defensive. Record U.S. trade deficits are fueling demands from industry, Congress, and the public for tariffs, import quotas, and other protectionist measures that could reverse America's long-standing commitment to open markets and sacrifice much of the economic progress experienced in recent years. In Saving Free Trade: A Pragmatic Approach, Robert Z. Lawrence and Robert E. Litan analyze both the allure of protectionism and the problems associated with free trade, proposing reasonable, cost-effective ways of helping industries, workers, and communities battered by intense import competition. The book focuses on the escape clause of the U.S. Trade Act of 1974, meant to provide domestic industries temporary shelter from severe import competition, and the trade adjustment assistance program, designed to provide direct aid to companies, workers, and communities injured by imports. The authors analyze the assumptions and implication of the many currentcongressional attempts to amend the provisions of the escape clause and the assistance program. They then set forth their own proposals, including new definitions of import injuries, modifications of provisions for providing relief for beleaguered companies, new standards for compensating and retaining displaced workers, and a plan for insuring communities against severe losses to their tax bases if local industries fail because they can no longer compete. Saving Free Trade provides a detailed but nontechnical introduction to the complex implications of amending trade policy and shrewd, innovative proposals for improving America's ability to adapt to rapid changes in world markets.
Trade was once an esoteric economic issue with little domestic policy resonance. Activists did not prioritize it, and grassroots political mobilization seemed unlikely to free trade advocates. The passage of the North American Free Trade Agreement in the early 1990s was therefore expected to be a fait accompli. Yet, as Trade Battles shows, activists pushed back: they increased the public consciousness on trade, mobilized new constituencies against it, and demanded that the rules of the global economy protect the collective rights and common good of citizens. Activists also forged a sustained challenge to U.S. trade policies after NAFTA, setting the stage for future trade battles. Using data from extensive archival materials and over 215 interviews with Mexican, Canadian, and U.S. trade negotiators; labor and environmental activists; and government officials, Tamara Kay and R.L. Evans assess how activists politicized trade policy by leveraging broad divisions across state and non-state arenas. Further, they demonstrate how activists were not only able to politicize trade policy, but also to pressure negotiators to include labor and environmental protections in NAFTA's side agreements. A timely contribution, Trade Battles seeks to understand the role of civil society in shaping state policy.
Book Synopsis Trade Battles by : Tamara Kay
Download or read book Trade Battles written by Tamara Kay and published by Oxford University Press. This book was released on 2018-07-10 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade was once an esoteric economic issue with little domestic policy resonance. Activists did not prioritize it, and grassroots political mobilization seemed unlikely to free trade advocates. The passage of the North American Free Trade Agreement in the early 1990s was therefore expected to be a fait accompli. Yet, as Trade Battles shows, activists pushed back: they increased the public consciousness on trade, mobilized new constituencies against it, and demanded that the rules of the global economy protect the collective rights and common good of citizens. Activists also forged a sustained challenge to U.S. trade policies after NAFTA, setting the stage for future trade battles. Using data from extensive archival materials and over 215 interviews with Mexican, Canadian, and U.S. trade negotiators; labor and environmental activists; and government officials, Tamara Kay and R.L. Evans assess how activists politicized trade policy by leveraging broad divisions across state and non-state arenas. Further, they demonstrate how activists were not only able to politicize trade policy, but also to pressure negotiators to include labor and environmental protections in NAFTA's side agreements. A timely contribution, Trade Battles seeks to understand the role of civil society in shaping state policy.
A Foreign Affairs Best Book of the Year: “Tells the history of American trade policy . . . [A] grand narrative [that] also debunks trade-policy myths.” —Economist Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in the Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin’s Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation—first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. “Combines scholarly analysis with a historian’s eye for trends and colorful details . . . readable and illuminating, for the trade expert and for all Americans wanting a deeper understanding of America’s evolving role in the global economy.” —National Review “Magisterial.” —Foreign Affairs
Book Synopsis Clashing Over Commerce by : Douglas A. Irwin
Download or read book Clashing Over Commerce written by Douglas A. Irwin and published by University of Chicago Press. This book was released on 2017-11-29 with total page 873 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Foreign Affairs Best Book of the Year: “Tells the history of American trade policy . . . [A] grand narrative [that] also debunks trade-policy myths.” —Economist Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in the Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin’s Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation—first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. “Combines scholarly analysis with a historian’s eye for trends and colorful details . . . readable and illuminating, for the trade expert and for all Americans wanting a deeper understanding of America’s evolving role in the global economy.” —National Review “Magisterial.” —Foreign Affairs
