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Free Trade Under Fire
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Book Synopsis Free Trade Under Fire by : Douglas A. Irwin
Download or read book Free Trade Under Fire written by Douglas A. Irwin and published by Princeton University Press. This book was released on 2020-04-14 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: An updated look at global trade and why it remains as controversial as ever Free trade is always under attack, more than ever in recent years. The imposition of numerous U.S. tariffs in 2018, and the retaliation those tariffs have drawn, has thrust trade issues to the top of the policy agenda. Critics contend that free trade brings economic pain, including plant closings and worker layoffs, and that trade agreements serve corporate interests, undercut domestic environmental regulations, and erode national sovereignty. Why are global trade and agreements such as the Trans-Pacific Partnership so controversial? Does free trade deserve its bad reputation? In Free Trade under Fire, Douglas Irwin sweeps aside the misconceptions that run rampant in the debate over trade and gives readers a clear understanding of the issues involved. In its fifth edition, the book has been updated to address the sweeping new policy developments under the Trump administration and the latest research on the impact of trade.
Book Synopsis Free Trade Under Fire by : Douglas A. Irwin
Download or read book Free Trade Under Fire written by Douglas A. Irwin and published by Princeton University Press. This book was released on 2009-08-09 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Growing international trade has helped lift living standards around the world, and yet free trade is always under attack. Critics complain that trade forces painful economic adjustments, such as plant closings and layoffs of workers, and charge that the World Trade Organization serves the interests of corporations, undercuts domestic environmental regulations, and erodes America's sovereignty. Why has global trade become so controversial? Does free trade deserve its bad reputation? In Free Trade under Fire, Douglas Irwin sweeps aside the misconceptions that litter the debate over trade and gives the reader a clear understanding of the issues involved. This third edition has been thoroughly updated to include the latest developments in world trade--including the practice of off-shoring services, the impact of trade on wages, and the implications of trade with China-based on the latest research.
Book Synopsis Free Trade under Fire by : Douglas A. Irwin
Download or read book Free Trade under Fire written by Douglas A. Irwin and published by Princeton University Press. This book was released on 2015-06-30 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Growing international trade has helped lift living standards around the world, and yet free trade is always under attack. Critics complain that trade forces painful economic adjustments, such as plant closings and layoffs of workers, and charge that the World Trade Organization serves the interests of corporations, undercuts domestic environmental regulations, and erodes America's sovereignty. Why has global trade—and trade agreements such as NAFTA—become so controversial? Does free trade deserve its bad reputation? In Free Trade under Fire, Douglas Irwin sweeps aside the misconceptions that litter the debate over trade and gives the reader a clear understanding of the issues involved. This fourth edition has been thoroughly updated to include the most recent policy developments and the latest research findings on the impact of trade.
Book Synopsis Free Trade Under Fire by : Douglas A. Irwin
Download or read book Free Trade Under Fire written by Douglas A. Irwin and published by . This book was released on 2002 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why has global trade become so controversial? In "Free Trade under Fire, " Irwin sweeps aside the misconceptions that litter the debate over trade and gives readers a clear understanding of the issues involved. He explains the economic benefits of trade, not just for corporations but for people and the environment.
Book Synopsis Free Trade Today by : Jagdish N. Bhagwati
Download or read book Free Trade Today written by Jagdish N. Bhagwati and published by Princeton University Press. This book was released on 2021-06-08 with total page 143 pages. Available in PDF, EPUB and Kindle. Book excerpt: Free trade, indeed economic globalization generally, is under siege. The conventional arguments for protectionism have been discredited but not banished. And free trade faces strong new challenges from a variety of groups, including environmentalists and human rights activists as well as traditional lobbies who wrap their agendas in the language of justice and rights. These groups, claiming a general interest and denouncing free trade as a special interest of corporations and other capitalist forces, have organized large and vocal protests in Seattle, Prague, and elsewhere. Based on his acclaimed Stockholm lectures and picking up where his widely influential Protectionism left off, Jagdish Bhagwati applies critical insights from revolutionary developments in commercial policy theory--many his own--to show how the pursuit of social and environmental agendas can be creatively reconciled with the pursuit of free trade. Indeed, he argues that free trade, by raising living standards, can serve these agendas far better than can a descent into trade sanctions and restrictions. After settling the score in favor of free trade, Professor Bhagwati considers alternative ways in which it can be pursued. Chiefly, he argues in support of multilateralism and advances a withering critique of recent bilateral and regional free trade agreements (including NAFTA) as preferential arrangements that introduce growing chaos into the world trading system. He also makes a strong case for "going it alone" on the road to trade liberalization and endorses the reemergence of unilateral liberalization at points around the globe. Forcefully, elegantly, and clearly written for the public by one of the foremost economic thinkers of our day, this volume is not merely accessible but essential reading for anyone interested in economic policy or in the world economy.
Book Synopsis Understanding Global Trade by : Elhanan Helpman
Download or read book Understanding Global Trade written by Elhanan Helpman and published by Harvard University Press. This book was released on 2011-04-25 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global trade is of vital interest to citizens as well as policymakers, yet it is widely misunderstood. This compact exposition of the market forces underlying international commerce addresses both of these concerned groups, as well as the needs of students and scholars. Although it contains no equations, it is almost mathematical in its elegance, precision, and power of expression. Understanding Global Trade provides a thorough explanation of what shapes the international organization of production and distribution and the resulting trade flows. It reviews the evolution of knowledge in this field from Adam Smith to today as a process of theoretical modeling, accumulation of new empirical data, and then revision of analytical frameworks in response to evidence and changing circumstances. It explains the sources of comparative advantage and how they lead countries to specialize in making products which they then sell to other countries. While foreign trade contributes to the overall welfare of a nation, it also creates winners and losers, and Helpman describes mechanisms through which trade affects a country's income distribution. The book provides a clear and original account of the revolutions in trade theory of the 1980s and the most recent decade. It shows how scholars shifted the analysis of trade flows from the sectoral level to the business-firm level, to elucidate the growing roles of multinational corporations, offshoring, and outsourcing in the international division of labor. Helpman’s explanation of the latest research findings is essential for an understanding of world affairs.
Book Synopsis Peddling Protectionism by : Douglas A. Irwin
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 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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. Featuring a new preface by the author, Peddling Protectionism tells a fascinating story filled with valuable lessons for trade policy today.
Book Synopsis Trade Policy Disaster by : Douglas A. Irwin
Download or read book Trade Policy Disaster written by Douglas A. Irwin and published by MIT Press. This book was released on 2011-10-21 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: The extreme protectionism that contributed to a collapse of world trade in the 1930s is examined in light of the recent economic crisis. The recent economic crisis—with the plunge in the stock market, numerous bank failures and widespread financial distress, declining output and rising unemployment—has been reminiscent of the Great Depression. The Depression of the 1930s was marked by the spread of protectionist trade policies, which contributed to a collapse in world trade. Although policymakers today claim that they will resist the protectionist temptation, recessions are breeding grounds for economic nationalism, and countries may yet consider imposing higher trade barriers. In Trade Policy Disaster, Douglas Irwin examines what we know about trade policy during the traumatic decade of the 1930s and considers what we can learn from the policy missteps of the time. Irwin argues that the extreme protectionism of the 1930s emerged as a consequence of policymakers' reluctance to abandon the gold standard and allow their currencies to depreciate. By ruling out exchange rate changes as an adjustment mechanism, policymakers turned instead to higher tariffs and other means of restricting imports. He offers a clear and concise exposition of such topics as the effect of higher trade barriers on the implosion of world trade; the impact of the Smoot-Hawley tariff of 1930; the reasons some countries adopted draconian trade restrictions (including exchange controls and import quotas) but others did not; the effect of preferential trade arrangements and bilateral clearing agreements on the multilateral system of world trade; and lessons for avoiding future trade wars.
Download or read book Failure to Adjust written by Edward Alden and published by Rowman & Littlefield. This book was released on 2017-09-15 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: *Updated edition with a new foreword on the Trump administration's trade policy* The vast benefits promised by the supporters of globalization, and by their own government, have never materialized for many Americans. In Failure to Adjust Edward Alden provides a compelling history of the last four decades of US economic and trade policies that have left too many Americans unable to adapt to or compete in the current global marketplace. He tells the story of what went wrong and how to correct the course. Originally published on the eve of the 2016 presidential election, Alden’s book captured the zeitgeist that would propel Donald J. Trump to the presidency. In a new introduction to the paperback edition, Alden addresses the economic challenges now facing the Trump administration, and warns that economic disruption will continue to be among the most pressing issues facing the United States. If the failure to adjust continues, Alden predicts, the political disruptions of the future will be larger still.
Book Synopsis Free Trade and Prosperity by : Arvind Panagariya
Download or read book Free Trade and Prosperity written by Arvind Panagariya and published by Oxford University Press. This book was released on 2019-04-01 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Arguments for protection and against free trade have seen a revival in developed countries such as the United States and Great Britain as well as developing countries such as India. Given the clear benefits trade openness has brought everywhere, this is a surprising development. The benefits of free trade are especially great for emerging market economies. FreeÂTrade and ProsperityÂoffers the first full-scale defense of pro-free-trade policies with developing countries at its center. Arvind Panagariya, a professor at Columbia University and former top economic advisor to the government of India, supplies a historically informed analysis of many longstanding but flawed arguments for protection. He starts with an insightful overview of the positive case for free trade, and then closely examines the various contentions of protectionists. One protectionist argument is that "infant" industries need time to grow and become competitive, and thus should be sheltered. Other arguments are that emerging markets are especially prone to coordination failures, they are in need of diversification of their production structures, and they suffer from market imperfections. The panoply of protectionist arguments, including those for import substitution industrialization, fails when subject to close logical and empirical scrutiny. Free trade and outward-oriented policies are preconditions to both sustained rapid growth and poverty alleviation in developing countries. Panagariya provides compelling evidence demonstrating the failures of protectionism and the promise of free trade using detailed case studies of successful countries such as Singapore, Taiwan, South Korea, China and India. Low or declining barriers to free trade and high or rising shares of trade in total income have been key elements in the sustained rapid growth and poverty alleviation in these countries and many others. Free trade is like oxygen: the benefits are ubiquitous and not noticed until they are no longer there. This important book is an essential reminder of the costs of protectionism.
Book Synopsis Toyota Under Fire: Lessons for Turning Crisis into Opportunity by : Jeffrey K. Liker
Download or read book Toyota Under Fire: Lessons for Turning Crisis into Opportunity written by Jeffrey K. Liker and published by McGraw Hill Professional. This book was released on 2011-03-11 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive inside account of Toyota's greatest crisis—and lessons you can apply to your own company "Those who write off Toyota in the current climate of second guessing and speculation are making a profound mistake and need to read this book to get the facts. Toyota is a company that will channel the current challenges to push themselves to even more relentless continuous improvement." —Charles Baker, former Chief Engineer and Vice President for R&D, Honda of America "Toyota Under Fire is a superb book and should prove very helpful to American industry's understanding of the problems faced and how any company can prevent similar occurrences in the future." —Norman Bodek, author, founder of Productivity Press, and inductee in 2010 Industry Week Manufacturing Hall of Fame "As a former automotive supplier executive and student of Toyota, I was concerned to see the many negative reports and investigations into the quality and safety of its vehicles. Toyota Under Fire tells the story of how this great company is growing wiser and stronger by living its culture and values." —Michael Fisher, CEO, Cincinnati Children's Hospital Medical Center "Just as Toyota has put itself through excruciating soul-searching in order to understand what went wrong, so should we all take advantage of the opportunity for learning presented to us by Toyota's misfortune. In these pages, you will find that the actual circumstances were far more complex, nuanced, and uncertain than you saw reported in the news." —John Y. Shook, Chairman and CEO, Lean Enterprise Institute "The most comprehensive and detailed review to date of the circumstances that led to the crisis, and the events and contexts that caused it to escalate.” —Strategy & Business About the Book For decades, Toyota has been setting standards that are the envy—and goal—of organizations worldwide. Its legendary management principles and business philosophy, first documented by Jeffrey K. Liker in his influential book The Toyota Way, changed the business world's approach to operational excellence. Granted unprecedented access to Toyota's facilities worldwide, Liker, along with Timothy N. Ogden, investigated the inside story of how Toyota faced the challenges of the recession and the recall crisis of 2009–2010. In both cases, the company was caught off guard—and found that a root cause of the challenges it faced was its failure to live up to its own principles. But the fundamentals were still there, and the company has ultimately come out of the most challenging years of its postwar existence even stronger than before. Toyota Under Fire chronicles all the events of the recession and the recall crisis in detail, providing valuable lessons any business leader can use to survive and thrive in a crisis, no matter how large: Crisis response must start by building a strong culture long before the crisis hits. Culture matters far more than decisions made by top executives. Investing in people, even in the depths of a recession, is the surest path to long-term profitability. Because it had founded its culture on such principles, Toyota didn’t need to amass an army of public relations, marketing, and legal experts to "put out the fire"; instead, it redoubled efforts to live up to its founding tenet, going "back to basics." Toyota began solving this crisis more than 70 years ago, when its organizational culture was first established. Apply the lessons of Toyota Under Fire to your company, and you'll meet any future management challenge calmly, responsibly, and effectively—the Toyota Way.
Download or read book Open written by Kimberly Clausing and published by . This book was released on 2019-03-04 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the winds of trade war blowing as they have not done in decades, and Left and Right flirting with protectionism, a leading economist forcefully shows how a free and open economy is still the best way to advance the interests of working Americans. Globalization has a bad name. Critics on the Left have long attacked it for exploiting the poor and undermining labor. Today, the Right challenges globalization for tilting the field against advanced economies. Kimberly Clausing faces down the critics from both sides, demonstrating in this vivid and compelling account that open economies are a force for good, not least in helping the most vulnerable. A leading authority on corporate taxation and an advocate of a more equal economy, Clausing agrees that Americans, especially those with middle and lower incomes, face stark economic challenges. But these problems do not require us to retreat from the global economy. On the contrary, she shows, an open economy overwhelmingly helps. International trade makes countries richer, raises living standards, benefits consumers, and brings nations together. Global capital mobility helps both borrowers and lenders. International business improves efficiency and fosters innovation. And immigration remains one of America's greatest strengths, as newcomers play an essential role in economic growth, innovation, and entrepreneurship. Closing the door to the benefits of an open economy would cause untold damage. Instead, Clausing outlines a progressive agenda to manage globalization more effectively, presenting strategies to equip workers for a modern economy, improve tax policy, and establish a better partnership between labor and the business community. Accessible, rigorous, and passionate, Open is the book we need to help us navigate the debates currently convulsing national and international economics and politics.
Book Synopsis Free Trade Today by : Jagdish N. Bhagwati
Download or read book Free Trade Today written by Jagdish N. Bhagwati and published by Princeton University Press. This book was released on 2003-10-12 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shows how the pursuit of social and environmental agendas can be creatively reconciled with the pursuit of free trade. Argues that free trade, by raising living standards, can serve these agendas far better than can a descent into trade sanctions and restrictions.
Book Synopsis The Case Against "free Trade" by : Ralph Nader
Download or read book The Case Against "free Trade" written by Ralph Nader and published by North Atlantic Books. This book was released on 1993 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the notion of "free trade" and the issues raised by adopting the General Agreement on Tariffs and Trade (GATT) and the North American Free Trade Agreement (NAFTA). Essays by Ralph Nader, Jerry Brown, William Greider, Margaret Atwood, Mark Ritchie, Wendell Berry, Pat Choate, and others.
Book Synopsis Trade Policy Disaster by : Douglas A. Irwin
Download or read book Trade Policy Disaster written by Douglas A. Irwin and published by MIT Press. This book was released on 2011-10-21 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: The extreme protectionism that contributed to a collapse of world trade in the 1930s is examined in light of the recent economic crisis. The recent economic crisis—with the plunge in the stock market, numerous bank failures and widespread financial distress, declining output and rising unemployment—has been reminiscent of the Great Depression. The Depression of the 1930s was marked by the spread of protectionist trade policies, which contributed to a collapse in world trade. Although policymakers today claim that they will resist the protectionist temptation, recessions are breeding grounds for economic nationalism, and countries may yet consider imposing higher trade barriers. In Trade Policy Disaster, Douglas Irwin examines what we know about trade policy during the traumatic decade of the 1930s and considers what we can learn from the policy missteps of the time. Irwin argues that the extreme protectionism of the 1930s emerged as a consequence of policymakers' reluctance to abandon the gold standard and allow their currencies to depreciate. By ruling out exchange rate changes as an adjustment mechanism, policymakers turned instead to higher tariffs and other means of restricting imports. He offers a clear and concise exposition of such topics as the effect of higher trade barriers on the implosion of world trade; the impact of the Smoot-Hawley tariff of 1930; the reasons some countries adopted draconian trade restrictions (including exchange controls and import quotas) but others did not; the effect of preferential trade arrangements and bilateral clearing agreements on the multilateral system of world trade; and lessons for avoiding future trade wars.
Book Synopsis The Triumph of the Antebellum Free Trade Movement by : W. Stephen Belko
Download or read book The Triumph of the Antebellum Free Trade Movement written by W. Stephen Belko and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses the tarrif debates in the 1820s leading up to and including the 1831 Philadelphia Free Trade Convention.
Book Synopsis Free Trade, Free World by : Thomas W. Zeiler
Download or read book Free Trade, Free World written by Thomas W. Zeiler and published by UNC Press Books. This book was released on 1999 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this era of globalization, it is easy to forget that today's free market values were not always predominant. But as this history of the birth of the General Agreement on Tariffs and Trade (GATT) shows, the principles and practices underlying our current international economy once represented contested ground between U.S. policymakers, Congress, and America's closest allies. Here, Thomas Zeiler shows how the diplomatic and political considerations of the Cold War shaped American trade policy during the critical years from 1940 to 1953. Zeiler traces the debate between proponents of free trade and advocates of protectionism, showing how and why a compromise ultimately triumphed. Placing a liberal trade policy in the service of diplomacy as a means of confronting communism, American officials forged a consensus among politicians of all stripes for freer_if not free_trade that persists to this day. Constructed from inherently contradictory impulses, the system of international trade that evolved under GATT was flexible enough to promote American economic and political interests both at home and abroad, says Zeiler, and it is just such flexibility that has allowed GATT to endure.
