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Trade Policy Disaster - (Ohlin Lectures) by Douglas A Irwin (Paperback)

Trade Policy Disaster - (Ohlin Lectures) by  Douglas A Irwin (Paperback) - 1 of 1
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About this item

Highlights

  • The extreme protectionism that contributed to a collapse of world trade in the 1930s is examined in light of the recent economic crisis.
  • About the Author: Douglas A. Irwin is Professor of Economics at Dartmouth College.
  • 212 Pages
  • Business + Money Management, Economic History
  • Series Name: Ohlin Lectures

Description



Book Synopsis



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.



About the Author



Douglas A. Irwin is Professor of Economics at Dartmouth College. He is the author of Free Trade under Fire, Peddling Protectionism: Smoot-Hawley and the Great Depression, and other books.
Dimensions (Overall): 8.0 Inches (H) x 5.38 Inches (W) x .49 Inches (D)
Weight: .56 Pounds
Suggested Age: 22 Years and Up
Number of Pages: 212
Genre: Business + Money Management
Sub-Genre: Economic History
Series Title: Ohlin Lectures
Publisher: MIT Press
Format: Paperback
Author: Douglas A Irwin
Language: English
Street Date: December 10, 2024
TCIN: 94168716
UPC: 9780262553834
Item Number (DPCI): 247-43-1800
Origin: Made in the USA or Imported

Shipping details

Estimated ship dimensions: 0.49 inches length x 5.38 inches width x 8 inches height
Estimated ship weight: 0.56 pounds
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