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Clashing Over Commerce - A History of Us Trade Policy (Paperback)
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Clashing Over Commerce - A History of Us Trade Policy (Paperback)
Series: Markets and Governments in Economic History
Expected to ship within 12 - 17 working days
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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.
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