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Hawley Smoot Tariff Bill Of 1930
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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 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.
Book Synopsis Clashing Over Commerce by : Douglas A. Irwin
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
Book Synopsis The Smoot-Hawley Tariff Act Revisited by : Bernard C. Beaudreau
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.
Book Synopsis Power, Protection, and Free Trade by : David A. Lake
Download or read book Power, Protection, and Free Trade written by David A. Lake and published by Cornell University Press. This book was released on 2018-03-15 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: No detailed description available for "Power, Protection, and Free Trade".
Book Synopsis Opening America's Market by : Alfred E. Eckes Jr.
Download or read book Opening America's Market written by Alfred E. Eckes Jr. and published by Univ of North Carolina Press. This book was released on 2000-11-09 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the passage of NAFTA and other recent free trade victories in the United States, former U.S. trade official Alfred Eckes warns that these developments have a dark side. Opening America's Market offers a bold critique of U.S. trade policies over the last sixty years, placing them within a historical perspective. Eckes reconsiders trade policy issues and events from Benjamin Franklin to Bill Clinton, attributing growing political unrest and economic insecurity in the 1990s to shortsighted policy decisions made in the generation after World War II. Eager to win the Cold War and promote the benefits of free trade, American officials generously opened the domestic market to imports but tolerated foreign discrimination against American goods. American consumers and corporations gained in the resulting global economy, but many low-skilled workers have become casualties. Eckes also challenges criticisms of the 'infamous' protectionist Smoot-Hawley Tariff Act of 1930, which allegedly worsened the Great Depression and provoked foreign retaliation. In trade history, he says, this episode was merely a mole hill, not a mountain.
Book Synopsis Kicking Away the Ladder by : Ha-Joon Chang
Download or read book Kicking Away the Ladder written by Ha-Joon Chang and published by Anthem Press. This book was released on 2002-07-01 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: How did the rich countries really become rich? In this provocative study, Ha-Joon Chang examines the great pressure on developing countries from the developed world to adopt certain 'good policies' and 'good institutions', seen today as necessary for economic development. His conclusions are compelling and disturbing: that developed countries are attempting to 'kick away the ladder' with which they have climbed to the top, thereby preventing developing countries from adopting policies and institutions that they themselves have used.
Book Synopsis Global Tariff War by : Ramesh Chandra Das
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.
Book Synopsis London Naval Conference by : United States. Department of State
Download or read book London Naval Conference written by United States. Department of State and published by . This book was released on 1930 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis American Individualism by : Herbert Hoover
Download or read book American Individualism written by Herbert Hoover and published by Garden City, Doubleday. This book was released on 1922 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, Hoover expounds and vigorously defends what has come to be called American exceptionalism: the set of beliefs and values that still makes America unique. He argues that America can make steady, sure progress if we preserve our individualism, preserve and stimulate the initiative of our people, insist on and maintain the safeguards to equality of opportunity, and honor service as a part of our national character.
Book Synopsis The Everything American Presidents Book by : Martin Kelly
Download or read book The Everything American Presidents Book written by Martin Kelly and published by Simon and Schuster. This book was released on 2007-05-11 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Everything American Presidents Book is an excellent source of information about each of the forty-three men who have served as chief executive of the United States. This exhaustive guide provides you with all you need to know about this country's leaders, including: Their early childhood and formative years The effect of the office on wives and children The triumphs and tragedies that shaped them The legacy of each man's term in office Written in an entertaining style by two experienced educators, this fun and informative guide is packed with facts and details about the life and times of each president and the major events that shaped his term. The Everything American Presidents Book has everything you need to know about the fascinating men who shaped U.S. history and policy.
Download or read book Hard Lines written by Ogden Nash and published by . This book was released on 1931 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: Verse.
Book Synopsis Years of adventure, 1874-1920 by : Herbert Hoover
Download or read book Years of adventure, 1874-1920 written by Herbert Hoover and published by . This book was released on 1951 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 2024-12-10 with total page 213 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 Great Depression and New Deal by : Eric Rauchway
Download or read book The Great Depression and New Deal written by Eric Rauchway and published by OUP USA. This book was released on 2008-03-10 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Great Depression forced the United States to adopt policies at odds with its political traditions. This title looks at the background to the Depression, its social impact, and at the various governmental attempts to deal with the crisis.
Book Synopsis Papers and books by : United States Tariff Commission
Download or read book Papers and books written by United States Tariff Commission and published by . This book was released on 1929 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Crises, 1929 to the Present, Second Edition by : Sara Hsu
Download or read book Financial Crises, 1929 to the Present, Second Edition written by Sara Hsu and published by Edward Elgar Publishing. This book was released on 2017-01-27 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: This fascinating volume offers a comprehensive synthesis of the events, causes and outcomes of the major financial crises from 1929 to the present day. Beginning with an overview of the global financial system, Sara Hsu presents both theoretical and empirical evidence to explain the roots of financial crises and financial instability in general. She then provides a thorough breakdown of a number of major crises of the past century, both in the United States and around the world.
Book Synopsis Protection for Exporters by : Andreas Dür
Download or read book Protection for Exporters written by Andreas Dür and published by . This book was released on 2010-01 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dur provides a novel explanation for the rise of global free trade that stresses the role of societal interests in shaping trade politics. He argues that exporters lobby more in reaction to losses of foreign market access than in pursuit of opportunities."
