Douglas A. Irwin Livres

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. As the Trump administration considers making major changes to US trade policy, Irwin's sweeping historical perspective helps illuminate the current debate. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. -- Provided by publisher

The extreme protectionism that contributed to a collapse of world trade in the 1930s is examined in light of the recent economic crisis.

A delightful as well as educational read. It should be a set text for anyone interested in trade policy - The Economist.

The 1990s began with fears of a "great sucking sound" of jobs lost due to the North American Free Trade Agreement and ended with opponents of the World Trade Organization taking to the streets in the "Battle of Seattle". Why has global trade become so controversial? Does free trade deserve its bad reputation? In this book, Douglas Irwin sweeps aside the misconceptions that litter the debate over trade and aims to give the reader a clear understanding of the issues involved

The Smoot-Hawley tariff of 1930, which raised US duties on hundreds of imported goods to record levels, is America's most infamous trade law. This title presents an account of the politics behind Smoot-Hawley, its economic consequences, the foreign reaction it provoked, and its aftermath and legacy.

The author argues that a tax on imports commensurately creates a tax on exports, and that trade imbalances reflect capital flows between countries.