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The Optimal Tax On Antebellum Us Cotton Exports
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Book Synopsis The Optimal Tax on Antebellum U.S. Cotton Exports by : Douglas A. Irwin
Download or read book The Optimal Tax on Antebellum U.S. Cotton Exports written by Douglas A. Irwin and published by . This book was released on 2001 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States produced about 80 percent of the world's cotton in the decades prior to the Civil War. How much monopoly power did the United States possess in the world cotton market and what would have been the effect of an optimal export tax? This paper estimates the elasticity of foreign demand for U.S. cotton exports and uses the elasticity in a simple partial equilibrium model to calculate the optimal export tax and its effect on prices, trade, and welfare. The results indicate that the export demand elasticity for U.S. cotton was about -1.7 and that the optimal export tax of about 50 percent would have raised U.S. welfare by about $6 million, about 0.1 percent of U.S. GDP or about 0.5 percent of the South's GDP.
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
Download or read book Empire of Cotton written by Sven Beckert and published by Vintage. This book was released on 2015-11-10 with total page 642 pages. Available in PDF, EPUB and Kindle. Book excerpt: WINNER OF THE BANCROFT PRIZE • A Pulitzer Prize finalist that's as unsettling as it is enlightening: a book that brilliantly weaves together the story of cotton with how the present global world came to exist. “Masterly … An astonishing achievement.” —The New York Times The empire of cotton was, from the beginning, a fulcrum of constant global struggle between slaves and planters, merchants and statesmen, workers and factory owners. Sven Beckert makes clear how these forces ushered in the world of modern capitalism, including the vast wealth and disturbing inequalities that are with us today. In a remarkably brief period, European entrepreneurs and powerful politicians recast the world’s most significant manufacturing industry, combining imperial expansion and slave labor with new machines and wage workers to make and remake global capitalism.
Book Synopsis The Regulation of International Trade, Volume 2 by : Petros C. Mavroidis
Download or read book The Regulation of International Trade, Volume 2 written by Petros C. Mavroidis and published by MIT Press. This book was released on 2016-04-22 with total page 887 pages. Available in PDF, EPUB and Kindle. Book excerpt: A detailed examination of WTO agreements regulating trade in goods, discussing legal context, policy background, economic rationale, and case law. The General Agreement on Tariffs and Trade (GATT) has extended its institutional arsenal since the Kennedy round in the early 1960s. The current institutional design is the outcome of the Uruguay round and agreements reached in the ongoing Doha round (begun in 2001). One of the institutional outgrowths of GATT is the World Trade Organization (WT0), created in 1995. In this book, Petros Mavroidis offers a detailed examination of WTO agreements regulating trade in goods, discussing legal context, policy background, economic rationale, and case law. Each chapter examines a given legal norm and its subsequent practice. In particular, he discusses agreements dealing with customs clearance; “contingent protection” instruments, which allow WTO members unilaterally to add to the negotiated amount of protection when a certain contingency (for example, dumping) has occurred; TBT (Technical Barriers to Trade) and SPS (Sanitary and Phyto-sanitary Measures) agreements, both of which deal with such domestic instruments as environmental, health policy, or consumer information; the agreement on Trade Related Investment Measures (TRIM); sector-specific agreements on agriculture and textiles; plurilateral agreements (binding a subset of WTO membership) on government procurement and civil aviation; and transparency in trade relations. This book's companion volume examines the GATT regime for international trade.
Book Synopsis International Trade: Theory, Evidence And Policy by : Richard Pomfret
Download or read book International Trade: Theory, Evidence And Policy written by Richard Pomfret and published by World Scientific Publishing Company. This book was released on 2016-02-04 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: International Trade: Theory, Evidence and Policy provides an integrated non-mathematical account of trade theory and policy that can be read straight through. The footnotes provide caveats, extensions and entry points, or further reading.This book is divided into three parts. The first part focuses on the core theoretical analysis of international trade that has evolved over a quarter-millennium. The second part reviews recent empirical research in global value chains, trade costs, and heterogeneous firms, particularly from analysing large datasets of individual firms' characteristics and of trade flows disaggregated to very finely detailed levels. The third section of the book analyzes trade policies and discusses current policy debates.This edition is based on Pomfret's Lecture Notes on International Trade Theory and Policy, first published in 2008. The content has been extensively updated and revised to stand as a new volume.
Book Synopsis International Economics by : Theo Eicher
Download or read book International Economics written by Theo Eicher and published by Routledge. This book was released on 2009-03-25 with total page 1130 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thought-provoking and clearly explained, the new edition provides students of international economics and international business with a rigorous explanation of global economic theory and policy, both current trends and historic developments. It explores key models through case studies and review questions, enabling students to challenge the reporting of economic events by press and government alike. Split into 2 parts – International Trade and International Finance – the text explains conceptual building blocks before applying them to current events and controversies. Key issues discussed include: the influence of transportation costs economies of scale and the new economic geography the evaluation of preferential trade agreements european Economic and Monetary Union the integration of international financial markets international financial crises, China and other emerging economies. Fully illustrated with tables and figures to allow students to visualise the issues discussed, the lively prose gives this book a refreshing approach. An accompanying website also provides context and coverage of the international financial crisis of October 2008, including the so-called ‘credit crunch’ and the collapse of some banking institutions.
Download or read book International Economics written by and published by Routledge. This book was released on with total page 783 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Reviving the Invisible Hand by : Deepak Lal
Download or read book Reviving the Invisible Hand written by Deepak Lal and published by Princeton University Press. This book was released on 2010-12-16 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reviving the Invisible Hand is an uncompromising call for a global return to a classical liberal economic order, free of interference from governments and international organizations. Arguing for a revival of the invisible hand of free international trade and global capital, eminent economist Deepak Lal vigorously defends the view that statist attempts to ameliorate the impact of markets threaten global economic progress and stability. And in an unusual move, he not only defends globalization economically, but also answers the cultural and moral objections of antiglobalizers. Taking a broad cross-cultural and interdisciplinary approach, Lal argues that there are two groups opposed to globalization: cultural nationalists who oppose not capitalism but Westernization, and "new dirigistes" who oppose not Westernization but capitalism. In response, Lal contends that capitalism doesn't have to lead to Westernization, as the examples of Japan, China, and India show, and that "new dirigiste" complaints have more to do with the demoralization of their societies than with the capitalist instruments of prosperity. Lal bases his case on a historical account of the rise of capitalism and globalization in the first two liberal international economic orders: the nineteenth-century British, and the post-World War II American. Arguing that the "new dirigisme" is the thin edge of a wedge that could return the world to excessive economic intervention by states and international organizations, Lal does not shrink from controversial stands such as advocating the abolishment of these organizations and defending the existence of child labor in the Third World.
Book Synopsis Advanced International Trade by : Robert C. Feenstra
Download or read book Advanced International Trade written by Robert C. Feenstra and published by Princeton University Press. This book was released on 2015-11-10 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade is a cornerstone concept in economics worldwide. This updated second edition of the essential graduate textbook in international trade brings readers to the forefront of knowledge in the field and prepares students to undertake their own research. In Advanced International Trade, Robert Feenstra integrates the most current theoretical approaches with empirical evidence, and these materials are supplemented in each chapter by theoretical and empirical exercises. Feenstra explores a wealth of material, such as the Ricardian and Heckscher-Ohlin models, extensions to many goods and factors, and the role of tariffs, quotas, and other trade policies. He examines imperfect competition, offshoring, political economy, multinationals, endogenous growth, the gravity equation, and the organization of the firm in international trade. Feenstra also includes a new chapter on monopolistic competition with heterogeneous firms, with many applications of that model. In addition to known results, the book looks at some particularly important unpublished results by various authors. Two appendices draw on index numbers and discrete choice models to describe methods applicable to research problems in international trade. Completely revised with the latest developments and brand-new materials, Advanced International Trade is a classic textbook that will be used widely by students and practitioners of economics for a long time to come. Updated second edition of the essential graduate textbook Current approaches and a new chapter on monopolistic competition with heterogeneous firms Supplementary materials in each chapter Theoretical and empirical exercises Two appendices describe methods for international trade research
Download or read book American Empire written by A. G. Hopkins and published by Princeton University Press. This book was released on 2018-02-20 with total page 1008 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new history of the United States that turns American exceptionalism on its head American Empire is a panoramic work of scholarship that presents a bold new global perspective on the history of the United States. Drawing on his expertise in economic history and the imperial histories of Britain and Europe, A. G. Hopkins takes readers from the colonial era to today to show how, far from diverging, the United States and Western Europe followed similar trajectories throughout this long period, and how America’s dependency on Britain and Europe extended much later into the nineteenth century than previously understood. In a sweeping narrative spanning three centuries, Hopkins describes how the revolt of the mainland colonies was the product of a crisis that afflicted the imperial states of Europe generally, and how the history of the American republic between 1783 and 1865 was a response not to the termination of British influence but to its continued expansion. He traces how the creation of a U.S. industrial nation-state after the Civil War paralleled developments in Western Europe, fostered similar destabilizing influences, and found an outlet in imperialism through the acquisition of an insular empire in the Caribbean and Pacific. The period of colonial rule that followed reflected the history of the European empires in its ideological justifications, economic relations, and administrative principles. After 1945, a profound shift in the character of globalization brought the age of the great territorial empires to an end. American Empire goes beyond the myth of American exceptionalism to place the United States within the wider context of the global historical forces that shaped the Western empires and the world.
Book Synopsis Exports, Trade Policy and Economic Growth in Eras of Globalization by : Edward M. Feasel
Download or read book Exports, Trade Policy and Economic Growth in Eras of Globalization written by Edward M. Feasel and published by Routledge. This book was released on 2018-06-13 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an excellent resource for understanding the forces in international trade liberalization over two centuries that have brought us to this point, where the successes, setbacks and the countervailing forces now vie for the public's mind and support: the outcome of which will determine the future progress of increased globalization, or lack thereof. The book also examines whether trade policy has indeed promoted exports in the vast number of countries which increasingly look to trade agreements to gain a competitive edge, and to what extent export-driven growth has been an important force in advancing economic development around the world. In doing so, the book examines one of the most controversial issues in economic development: the promotion and significance of export-led growth.
Download or read book Working Paper Series written by and published by . This book was released on 2002 with total page 620 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Atlantic Metropolis by : Aaron Gurwitz
Download or read book Atlantic Metropolis written by Aaron Gurwitz and published by Springer. This book was released on 2019-06-13 with total page 737 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book applies the contents of a working economist’s tool-kit to explain, clearly and intuitively, when and why over the course of four centuries individuals, families, and enterprises decided to locate in or around the lower Hudson River Valley. Collectively those millions of decisions have made New York one of the twenty-first century’s few truly global cities. A recurrent analytic theme of this work is that the ups and downs of New York’s trajectory are best understood in the context of what was happening elsewhere in the broader Atlantic world. Readers will find that the Atlantic perspective viewed through an economic lens goes a long way toward clarifying otherwise quite perplexing historical events and trends.
Book Synopsis American History, Race and the Struggle for Equality by : Masaki Kawashima
Download or read book American History, Race and the Struggle for Equality written by Masaki Kawashima and published by Springer. This book was released on 2016-12-16 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: Powerfully synthesizing major currents in the field, this book addresses the issue of inequality across American politics and society, using race as a lens for the exploration of major themes in American history. It considers the concept of race as a social construction, against the background of the historical struggles for “fairness” in a society based on the framework of democracy, whose principle is that majority’s consent be necessary for the fulfillment of “justice.” Foregrounding problems of race, capital, and political economy, it particularly examines the connections between race and class, the relationship of slavery and national politics, and the distinctive intellectual framework that Americans have developed to discuss “race.” Offering a detailed account of civil rights legislation, an overview of immigration law and policy, and comprehensive overviews of debates about affirmative action, immigration, and the causes and solutions to racialized urban poverty, this book emphasizes what is distinctive about the United States and offers a unique comparative framework for thinking about America’s racial past.
Book Synopsis The Handbook of Historical Economics by : Alberto Bisin
Download or read book The Handbook of Historical Economics written by Alberto Bisin and published by Academic Press. This book was released on 2021-04-21 with total page 1004 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Historical Economics guides students and researchers through a quantitative economic history that uses fully up-to-date econometric methods. The book's coverage of statistics applied to the social sciences makes it invaluable to a broad readership. As new sources and applications of data in every economic field are enabling economists to ask and answer new fundamental questions, this book presents an up-to-date reference on the topics at hand. - Provides an historical outline of the two cliometric revolutions, highlighting the similarities and the differences between the two - Surveys the issues and principal results of the "second cliometric revolution" - Explores innovations in formulating hypotheses and statistical testing, relating them to wider trends in data-driven, empirical economics
Book Synopsis Bluff, Bluster, Lies and Spies by : David Perry
Download or read book Bluff, Bluster, Lies and Spies written by David Perry and published by Open Road Media. This book was released on 2016-08-16 with total page 654 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth illustration of shifting Civil War alliances and strategies and of Great Britain’s behind-the-scenes role in America’s War Between the States. In the early years of the Civil War, Southern arms won spectacular victories on the battlefield. But cooler heads in the Confederacy recognized the demographic and industrial weight pitted against them, and they counted on British intervention to even the scales and deny the United States victory. Fearful that Great Britain would recognize the Confederacy and provide the help that might have defeated the Union, the Lincoln administration was careful not to upset the greatest naval power on earth. Bluff, Bluster, Lies and Spies takes history buffs into the mismanaged State Department of William Henry Seward in Washington, DC, and details the more skillful work of Lords Palmerston, Russell, and Lyons in the British Foreign Office. It explains how Great Britain’s safety and continued existence as an empire depended on maintaining an influence on American foreign policy and how the growth of the Union navy—particularly its new ironclad ships—rendered her a paper tiger who relied on deceit and bravado to preserve the illusion of international strength. Britain had its own continental rivals—including France—and the question of whether a truncated United States was most advantageous to British interests was a vital question. Ultimately, Prime Minister Palmerston decided that Great Britain would be no match for a Union armada that could have seized British possessions throughout the Western Hemisphere, including Canada, and he frustrated any ambitions to break Lincoln’s blockade of the Confederacy. Revealing a Europe full of spies and arms dealers who struggled to buy guns and of detectives and publicists who attempted to influence opinion on the continent about the validity of the Union or Confederate causes, David Perry describes how the Civil War in the New World was determined by Southern battlefield prowess, as the powers of the Old World declined to intervene in the American conflict.
Book Synopsis The Responsiveness of Consumer Prices to Exchange Rates and the Implications for Exchange-rate Policy by : Charles Engel
Download or read book The Responsiveness of Consumer Prices to Exchange Rates and the Implications for Exchange-rate Policy written by Charles Engel and published by . This book was released on 2002 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: The traditional case for flexibility in nominal exchange rates assumes that there is nominal price stickiness that prevents relative prices from adjusting in response to real shocks. When prices are sticky in producers' currencies, nominal exchange rate changes can achieve the relative price change that is required between home and foreign goods. The nominal exchange rate flexibility provides the desired 'expenditure-switching' effect of relative price changes. But if prices are fixed ex ante in consumers' currencies, nominal exchange rate flexibility cannot achieve any relative price adjustment. In fact, nominal exchange rate fluctuations are undesirable because they lead to deviations from the law of one price. So, fixed exchange rates are optimal. The empirical literature appears to support the notion that prices are sticky in consumers' currencies. This paper surveys the approaches taken in the new open economy macroeconomic literature to formalize the role of optimal monetary policy. The survey explores how this literature has dealt with the empirical evidence on pass-through of exchange rate changes to consumer prices.
