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Books > Business & Economics > Economics > International economics > International trade > Trade agreements & tariffs
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The Wealth of a Nation - A History of Trade Politics in America (Paperback)
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The Wealth of a Nation - A History of Trade Politics in America (Paperback)
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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.
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