Peddling Protectionism

Peddling Protectionism
Author: Douglas A. Irwin
Publisher: Princeton University Press
Total Pages: 265
Release: 2017-10-24
Genre: Business & Economics
ISBN: 1400888425

A history of America's most infamous tariff The Smoot-Hawley tariff of 1930, which raised U.S. duties on hundreds of imported goods to record levels, is America's most infamous trade law. It is often associated with—and sometimes blamed for—the onset of the Great Depression, the collapse of world trade, and the global spread of protectionism in the 1930s. Even today, the ghosts of congressmen Reed Smoot and Willis Hawley haunt anyone arguing for higher trade barriers; almost single-handedly, they made protectionism an insult rather than a compliment. In Peddling Protectionism, Douglas Irwin provides the first comprehensive history of the causes and effects of this notorious measure, explaining why it largely deserves its reputation for combining bad politics and bad economics and harming the U.S. and world economies during the Depression. In four brief, clear chapters, Irwin presents an authoritative account of the politics behind Smoot-Hawley, its economic consequences, the foreign reaction it provoked, and its aftermath and legacy. Starting as a Republican ploy to win the farm vote in the 1928 election by increasing duties on agricultural imports, the tariff quickly grew into a logrolling, pork barrel free-for-all in which duties were increased all around, regardless of the interests of consumers and exporters. After Herbert Hoover signed the bill, U.S. imports fell sharply and other countries retaliated by increasing tariffs on American goods, leading U.S. exports to shrivel as well. While Smoot-Hawley was hardly responsible for the Great Depression, Irwin argues, it contributed to a decline in world trade and provoked discrimination against U.S. exports that lasted decades. Peddling Protectionism tells a fascinating story filled with valuable lessons for trade policy today.

Classical Trade Protectionism 1815-1914

Classical Trade Protectionism 1815-1914
Author: Jean-Pierre Dormois
Publisher: Routledge
Total Pages: 447
Release: 2006-11-22
Genre: Business & Economics
ISBN: 1134262957

Including contributions from such figures as Douglas Irwin, James Foreman-Peck, Kevin O'Rourke and Max-Stefan-Schulze, this key book summarizes the recent empirical research carried out on the issue of the classical period of trade protectionism. It provides a basis for revising widely held views on the standard effects of tariffs on economic structures and progress, as well as a historical perspective on recent developments. Long-held views on modern trade policies have been challenged by the introduction of recent theoretical developments in international economics and in measurement techniques brought about in the 1960s and 70s. One question in particular has attracted attention and has contributed to the bringing to light of a number of previously ignored measurement and interpretation problems: the assessment of French and British nineteenth century trade policies. This noteworthy volume examines the theoretical and practical problems associated with the assessment and measurement of the direct impact of tariffs, prohibitions and quotas on domestic prices, output structure and competitiveness. The contributors also examine the direct and long-run consequences of protectionist measures on particular economies, utilizing evidence from in-depth investigations of trade statistics as well as ‘best practice’ statistical techniques such as effective protection, elasticity of demand and revealed comparative advantage.

Economic Protectionism (Classic Reprint)

Economic Protectionism (Classic Reprint)
Author: Josef Grunzel
Publisher: Forgotten Books
Total Pages: 382
Release: 2017-09-12
Genre: Business & Economics
ISBN: 9781528049399

Excerpt from Economic Protectionism The Division of Economics and History of the Carnegie Endowment for International Peace is organized to promote a thorough and scientific investigation of the causes and results of war In accordance with this purpose a conference of eminent statesmen, publicists, and economists was held in Berne, Switzerland, in August 1911, at which a plan of investigation was formed and an extensive list of topics was prepared. The programme of that Conference is presented in detail in an Appendix. It will be seen that an elaborate series of investigations has been undertaken, and the result ing reports may in due time be expected in printed form. Of works so prepared, some will aim to reveal direct and indirect consequences of warfare, and thus to furnish a basis for a judgement as to the reasonableness of the resort to it. If the evils are in reality larger and the benefits smaller than in the common view they appear to be, such studies should furnish convincing evidence of this fact and. Afford a basis for an enlightened policy whenever there is danger of inter national conflicts. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Economics in One Lesson

Economics in One Lesson
Author: Henry Hazlitt
Publisher: Crown Currency
Total Pages: 220
Release: 2010-08-11
Genre: Business & Economics
ISBN: 0307760626

With over a million copies sold, Economics in One Lesson is an essential guide to the basics of economic theory. A fundamental influence on modern libertarianism, Hazlitt defends capitalism and the free market from economic myths that persist to this day. Considered among the leading economic thinkers of the “Austrian School,” which includes Carl Menger, Ludwig von Mises, Friedrich (F.A.) Hayek, and others, Henry Hazlitt (1894-1993), was a libertarian philosopher, an economist, and a journalist. He was the founding vice-president of the Foundation for Economic Education and an early editor of The Freeman magazine, an influential libertarian publication. Hazlitt wrote Economics in One Lesson, his seminal work, in 1946. Concise and instructive, it is also deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy. Economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy which occurred more than 50 years after the initial publication of Economics in One Lesson. Hazlitt’s focus on non-governmental solutions, strong — and strongly reasoned — anti-deficit position, and general emphasis on free markets, economic liberty of individuals, and the dangers of government intervention make Economics in One Lesson every bit as relevant and valuable today as it has been since publication.

Handbook of Alternative Theories of Economic Development

Handbook of Alternative Theories of Economic Development
Author: Erik S. Reinert
Publisher: Edward Elgar Publishing
Total Pages: 849
Release: 2016-09-28
Genre: Business & Economics
ISBN: 1782544682

The Handbook of Alternative Theories of Economic Development explores the theories and approaches which, over a prolonged period of time, have existed as viable alternatives to today’s mainstream and neo-classical tenets. With a total of 40 specially commissioned chapters, written by the foremost authorities in their respective fields, this volume represents a landmark in the field of economic development. It elucidates the richness of the alternative and sometimes misunderstood ideas which, in different historical contexts, have proved to be vital to the improvement of the human condition. The subject matter is approached from several complementary perspectives. From a historical angle, the Handbook charts the mercantilist and cameralist theories that emerged from the Renaissance and developed further during the Enlightenment. From a geographical angle, it includes chapters on African, Chinese, Indian, and Muslim approaches to economic development. Different schools are also explored and discussed including nineteenth century US development theory, Marxist, Schumpeterian, Latin American structuralism, regulation theory and world systems theories of development. In addition, the Handbook has chapters on important events and institutions including The League of Nations, The Havana Charter, and UNCTAD, as well as on particularly influential development economists. Contemporary topics such as the role of finance, feminism, the agrarian issue, and ecology and the environment are also covered in depth. This comprehensive Handbook offers an unrivalled review and analysis of alternative and heterodox theories of economic development. It should be read by all serious scholars, teachers and students of development studies, and indeed anyone interested in alternatives to development orthodoxy.

Development of Economic Analysis

Development of Economic Analysis
Author: Ingrid H. Rima
Publisher: Routledge
Total Pages: 681
Release: 2012-10-12
Genre: Business & Economics
ISBN: 1134570600

This is the sixth edition of a textbook that has been instrumental in introducing a generation of students to the history of economic thought. It charts the development of economics from its establishment as an analytical discipline in the eighteenth century through to the late twentieth century. The book discusses the work of, amongst others: Ricardo, Malthus, Marx, Walras, Marshall and Keynes as well as the institutionalists, the Chicago School and the emergence of econometrics. This edition has been fully revised and updated and includes: * chronologies of the key dates in the development of economics * extracts from original texts * an examination of how the study of the history of economic thought impinges upon modern thinking.

Industrial Colonies and Village Settlements for the Consumptive (Classic Reprint)

Industrial Colonies and Village Settlements for the Consumptive (Classic Reprint)
Author: German Woodhead
Publisher: CUP Archive
Total Pages: 172
Release: 2018-01-19
Genre: Social Science
ISBN:

Excerpt from Industrial Colonies and Village Settlements for the Consumptive Symonds, and we together examined the patients, sampled the climate and other conditions, and argued with Unger and Ruedi. Then for the second time came Hope; more solid Hope. Given a fairly early case, and three years, and recovery was in the offing. And so we went on cheerfully with Davos. But Davos was not for every one; nor was every case an early 'one. Then came the discovery that lower altitudes would do if certain conditions were obtained; and so arose the great sanatorium movement. But slowly we found that patients could not spend their lives in sanatoriums; and one day on making my way up to one of them in England, I met on the way patient after patient, slouching along, bored to death with themselves and with each other; and even worse in morale than in body. Better discipline and better notions of thera peutics mended some of that; still I could not forget those listless saunterers, and it became evident to some of us, however unwillingly, that Hope was drooping again. The sanatorium was doing a great educative work no doubt; but at the end of its four or six months - what then? To send the patient away with recommendations about light jobs, and a regime, was almost a mockery or quite. What about the wage, and the family to be supported? The next lesson was brought home to me by a visit with other commissioners to certain cities, concerning some such problems. Before me now I see a gaunt hollow-eyed man, coughing, and leaning against the wall as he tried to talk to us, saying that his mates when he came out of the sanatorium - good fellows as they were - had bought him a milk that he might creep round, and earn a bit. The brave wife, shawl on head and mill apron on, had just come from the factory, and apologised for the dirty house - as well she might. The poor thing was working all day at the factory to keep the wolf from the door. All being dragged down together into the pit! What is the value of a good house, or a clean house, if no wages! What is there for the children? And what is to stop the infection! Who then would have the imagination, the initiative, the business capacity, to lift this burden, like lifting a world? About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.