9780262016711-0262016710-Trade Policy Disaster: Lessons from the 1930s (Ohlin Lectures)

Trade Policy Disaster: Lessons from the 1930s (Ohlin Lectures)

ISBN-13: 9780262016711
ISBN-10: 0262016710
Edition: Illustrated
Author: Douglas A. Irwin
Publication date: 2011
Publisher: The MIT Press
Format: Hardcover 216 pages
FREE US shipping

Book details

ISBN-13: 9780262016711
ISBN-10: 0262016710
Edition: Illustrated
Author: Douglas A. Irwin
Publication date: 2011
Publisher: The MIT Press
Format: Hardcover 216 pages

Summary

Trade Policy Disaster: Lessons from the 1930s (Ohlin Lectures) (ISBN-13: 9780262016711 and ISBN-10: 0262016710), written by authors Douglas A. Irwin, was published by The MIT Press in 2011. With an overall rating of 3.8 stars, it's a notable title among other books. You can easily purchase or rent Trade Policy Disaster: Lessons from the 1930s (Ohlin Lectures) (Hardcover) from BooksRun, along with many other new and used books and textbooks. And, if you're looking to sell your copy, our current buyback offer is $0.38.

Description

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.

Rate this book Rate this book

We would LOVE it if you could help us and other readers by reviewing the book