Download or read book Peddling Protectionism written by Douglas A. Irwin and published by Princeton University Press. This book was released on 2017-10-24 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
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
Download or read book Tariff Wars and the Politics of Jacksonian America written by William K. Bolt and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exploring the era when taxation battles spilled beyond the halls of Congress and gave rise to democracy before the Civil War
Download or read book Tariff Wars and the Politics of Jacksonian America written by William K. Bolt and published by Vanderbilt University Press. This book was released on 2017-08-15 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Before the Civil War, the American people did not have to worry about a federal tax collector coming to their door. The reason why was the tariff, taxing foreign goods and imports on arrival in the United States. Tariff Wars and the Politics of Jacksonian America attempts to show why the tariff was an important part of the national narrative in the antebellum period. The debates in Congress over the tariff were acrimonious, with pitched arguments between politicians, interest groups, newspapers, and a broader electorate. The spreading of democracy caused by the tariff evoked bitter sectional controversy among Americans. Northerners claimed they needed a tariff to protect their industries and also their wages. Southerners alleged the tariff forced them to buy goods at increased prices. Having lost the argument against the tariff on its merits, in the 1820s, southerners began to argue the Constitution did not allow Congress to enact a protective tariff. In this fight, we see increased tensions between northerners and southerners in the decades before the Civil War began. As Tariff Wars reveals, this struggle spawned a controversy that placed the nation on a path that would lead to the early morning hours of Charleston Harbor in April of 1861.
Download or read book Politics Pressures and the Tariff written by Elmer Eric Schattschneider and published by . This book was released on 1935 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Politics Process and American Trade Policy written by Sharyn O'Halloran and published by University of Michigan Press. This book was released on 1994 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: Relying on the New Economics of Organizations (NEO), or New Institutionalism, Politics, Process, and American Trade Policy shows why conventional models do not adequately describe the formation of American trade policy. Rejecting both the pressure group model and the presidential-ascendancy model, this study's institution-based approach emphasizes the influence Congress has in setting trade policy, connecting theories of institutional design with the procedural details of regulating trade policy. To reach her conclusions, Sharyn O'Halloran uses time series data and econometric analysis to test a set of propositions concerning trade policy. She examines detailed case studies and provides a comprehensive history of the institutions that govern trade policy making. Unlike most scholars who see trade policy as disparate and ad hoc, O'Halloran is able to explain both early and contemporary American trade policy in a consistent and integrated fashion. She argues that a single set of procedures may lead to apparently different outcomes under differing initial conditions; therefore, the key is to identify the common logic, derived from constitutional imperatives, that underlies all policy outcomes.
Download or read book The National System of Political Economy written by Friedrich List and published by . This book was released on 1904 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Tariff Politics and American Foreign Policy 1874 1901 written by Tom E. Terrill and published by Praeger. This book was released on 1973-09-24 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Global Tariff War written by Ramesh Chandra Das and published by Emerald Group Publishing. This book was released on 2021-03-09 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global Tariff War: Economic, Political and Social Implications traces the impacts that global tariff wars in international trade can have on the growth of national economies. Offering a range of perspectives from developing economies, this collection presents a unique insight into this complex area of geo-political and economic practice.
Download or read book The Politics of Trade written by Cynthia Ann Hody and published by Dartmouth College Press. This book was released on 1996 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: The link between domestic & international policies shown by examining the implications of institutional change.
Download or read book The Relation of Tariff Autonomy to the Political Situation in China written by Claude Albert Buss and published by . This book was released on 1927 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The History of Protective Tariff Laws written by Richard Wigginton Thompson and published by . This book was released on 1888 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Black Hole Tariffs and Endogenous Policy Theory written by Stephen P. Magee and published by Cambridge University Press. This book was released on 1989-08-25 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: An example of special interest protection is provided by this study's general equilibrium theory that explains income distribution with goods markets, factor markets, lobbies, political parties and voters all pursuing their self interests.
Download or read book The Wealth of a Nation written by C. Donald Johnson and published by Oxford University Press. This book was released on 2018 with total page 665 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is entering a period of profound uncertainty in the world political economy--an uncertainty which is threatening the liberal economic order that its own statesmen created at the end of the Second World War. The storm surrounding this threat has been ignited by an issue that has divided Americans since the nation's founding: international trade. Is America better off under a liberal trade regime, or would protectionism be more beneficial? The issue divided Alexander Hamilton from Thomas Jefferson, the agrarian south from the industrializing north, and progressives from robber barons in the Gilded Age. In our own times, it has pitted anti-globalization activists and manufacturing workers against both multinational firms and the bulk of the economics profession. Ambassador C. Donald Johnson's The Wealth of a Nation is an authoritative history of the politics of trade in America from the Revolution to the Trump era. Johnson begins by charting the rise and fall of the U.S. protectionist system from the time of Alexander Hamilton to the Smoot-Hawley Tariff of 1930. Challenges to protectionist dominance were frequent and often serious, but the protectionist regime only faded in the wake of the Great Depression. After World War II, America was the primary architect of the liberal rules-based economic order that has dominated the globe for over half a century. Recent years, however, have seen a swelling anti-free trade movement that casts the postwar liberal regime as anti-worker, pro-capital, and--in Donald Trump's view--even anti-American. In this riveting history, Johnson emphasizes the benefits of the postwar free trade regime, but focuses in particular on how it has attempted to advance workers' rights. This analysis of the evolution of American trade policy stresses the critical importance of the multilateral trading system's survival and defines the central political struggle between business and labor in measuring the wealth of a nation.
Download or read book The Smoot Hawley Tariff Act Revisited written by Bernard C. Beaudreau and published by Cambridge Scholars Publishing. This book was released on 2020-02-28 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Smoot-Hawley Tariff Act of 1930 remains one of the most enigmatic pieces of legislation in the 20th century. Held by some to have caused the Great Depression, and by others to have worsened it, the Act’s underlying motives continue to be the subject of vigorous debate. For example, Dartmouth College economic historian and trade expert Douglas Irwin pointed to a political ploy on the part of the Republican Party to avert electoral defeat in 1928 by the Mid-West farm lobby. This book presents an alternative view, based in large measure on recently published studies. It is argued that the Smoot-Hawley Tariff Act should be understood as the Republican Party’s attempt at closing a widening output gap in the US, resulting from the widespread adoption of a new power transmission technology in the form of electric unit drive (EUD). Electric unit drive, by providing the wherewithal to increase machine speed considerably, resulted in productivity gains in the 40-100 percent range. Existing plant and equipment was now vastly more productive as a result of greater machine speeds. The book consists of six papers, five of which were previously published.
Download or read book Challenges to Globalization written by Robert E. Baldwin and published by University of Chicago Press. This book was released on 2007-11-01 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: People passionately disagree about the nature of the globalization process. The failure of both the 1999 and 2003 World Trade Organization's (WTO) ministerial conferences in Seattle and Cancun, respectively, have highlighted the tensions among official, international organizations like the WTO, the International Monetary Fund (IMF), the World Bank, nongovernmental and private sector organizations, and some developing country governments. These tensions are commonly attributed to longstanding disagreements over such issues as labor rights, environmental standards, and tariff-cutting rules. In addition, developing countries are increasingly resentful of the burdens of adjustment placed on them that they argue are not matched by commensurate commitments from developed countries. Challenges to Globalization evaluates the arguments of pro-globalists and anti-globalists regarding issues such as globalization's relationship to democracy, its impact on the environment and on labor markets including the brain drain, sweat shop labor, wage levels, and changes in production processes, and the associated expansion of trade and its effects on prices. Baldwin, Winters, and the contributors to this volume look at multinational firms, foreign investment, and mergers and acquisitions and present surprising findings that often run counter to the claim that multinational firms primarily seek countries with low wage labor. The book closes with papers on financial opening and on the relationship between international economic policies and national economic growth rates.
Download or read book Tam Tom and Toms Discussion of Free Trade as a Remedy for Trusts written by Roswell Alphonzo Benedict and published by . This book was released on 1901 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt:
