Description
Book SynopsisExplains how the idea of free trade has endured against the tide of the criticisms that have been leveled against it from the ancient world and Adam Smith's day. This book allows the reader to put the guises of protectionist thinking into the context of the past and discover why the idea of free trade has so successfully prevailed over time.
Trade ReviewOne of Choice's Outstanding Academic Titles for 1996 "Against the Tide...reviews thinking on free trade from ancient times to the present day. It is encyclopedic in its scope, yet it is very well written and accessible to nonspecialists, fair to the critics of free trade while leaving no doubt that the author finds their argument fatally flawed."--Bruce Bartlett, The Wall Street Journal "Few economic debates have raised more emotion over the last two centuries than that between the champions of free trade and the advocates of protectionism. Irwin chronicles this controversy in great detail... The debate is still very much alive today--from EEC to NAFTA, to the campaign rhetoric in this year's presidential primaries."--Publishers Weekly "An entertaining, informative account of the emergence of the concept of free trade ... full of new insights and unexpected delights... A work that is not only interesting and inspiring but of great practical use."--Paul Krugman, Journal of Economic Literature "Against the Tide is an impressive intellectual achievement. As the history of an economic idea, it pays less attention to the political and economic setting in which different theories were promoted than to their analytical rigour... A delightful as well as an educational read. It should be a set text for anyone interested in trade policy."--The Economist
Table of ContentsList of IllustrationsAcknowledgmentsIntroduction3Ch. 1Early Foreign Trade Doctrines11Ch. 2The English Mercantilist Literature26Ch. 3The Emergence of Free Trade Thought45Ch. 4Physiocracy and Moral Philosophy64Ch. 5Adam Smith's Case for Free Trade75Ch. 6Free Trade in Classical Economics87Ch. 7Torrens and the Terms of Trade Argument101Ch. 8Mill and the Infant Industry Argument116Ch. 9Graham and the Increasing Returns Argument138Ch. 10Manoilescu and the Wage Differential Argument153Ch. 11The Australian Case for Protection172Ch. 12The Welfare Economics of Free Trade180Ch. 13Keynes and the Macroeconomics of Protection189Ch. 14Strategic Trade Policy207Conclusion: The Past and Future of Free Trade217References231Index253
