A wide-ranging history of modern America that argues that free
trade has been an engine of US foreign policy and the key to global
prosperity. Surprisingly, exports and imports, tariffs and quotas,
and trade deficits and surpluses are central to American foreign
relations. Ever since Franklin D. Roosevelt took office during the
Great Depression, the United States has linked trade to its
long-term diplomatic objectives and national security. Washington,
DC saw free trade as underscoring its international leadership and
as instrumental to global prosperity, to winning wars and peace,
and to shaping the liberal internationalist world order. Free
trade, in short, was a cornerstone of an ideology of "capitalist
peace." Covering nearly a century, Capitalist Peace provides the
first chronologically sweeping look at the intersection of trade
and diplomacy. This policy has been pursued oftentimes at a cost to
US producers and workers, whose interests were sacrificed to serve
the purpose of grand strategy. To be sure, capitalists sought a
particular type of global trade, which harnessed the market through
free trade. This liberal trade policy sought the common good as
defined by the needs, aims, and strengths of the capitalist and
democratic world. Leaders believed that free trade advanced private
enterprise, which, in turn, promoted prosperity, democracy,
security, and attendant by-products like development, cooperation,
integration, and human rights. The capitalist peace took
liberalization as integral to cooperation among nations and even to
morality in global affairs. Drawing on new research from the
Reagan, George H.W. Bush, Clinton, and George W. Bush presidential
libraries, as well as business/ industry and civic association
archives, Thomas W. Zeiler narrates this history from the road to
World War II, through the Cold War, to the resurgent protectionism
of the Trump era and up to the present. Offering a new
interpretation of diplomatic history, Capitalist Peace shows how US
power, interests, and values were projected into the international
arena even as capitalism brought both positive and negative results
to the global order.
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