Against the Tide: An Intellectual History of Free TradeAbout two hundred years ago, largely as a result of Adam Smith's Wealth of Nations, free trade achieved an intellectual status unrivaled by any other doctrine in the field of economics. What accounts for the success of free trade against then prevailing mercantilist doctrines? And how well has free trade withstood various theoretical attacks that have challenged it since Adam Smith's time? In this readable intellectual history, Douglas Irwin explains how the idea of free trade has endured against the tide of the abundant criticisms that have been leveled against it from the ancient world and Adam Smith's day to the present. An accessible, nontechnical look at one of the most important concepts in the field of economics, Against the Tide will allow the reader to put the ever new guises of protectionist thinking into the context of the past and discover why the idea of free trade has so successfully prevailed over time. |
From inside the book
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... Trade in Classical Economics PART TWO : Controversies about the ix xi 3 11 26 45 64 75 87 Free Trade Doctrine CHAPTER SEVEN Torrens and the Terms of Trade Argument 101 CHAPTER EIGHT Mill and the Infant Industry Argument 116 CHAPTER NINE ...
An Intellectual History of Free Trade Douglas A. Irwin. " Defeated as a general ... trade has remained compelling or has been compro- mised by the various ... terms of primary factors of production , such as land , labor , and capital ...
... trade , a term that has no unique definition . In theoretical terms , free trade generally means that there are no artificial impediments to the exchange of goods across national markets and that therefore the prices faced by domes- tic ...
An Intellectual History of Free Trade Douglas A. Irwin. lectual history and ... trade doctrine . This book is not an eco- nomic history of commercial policy ... terms of actual policy . But with- out a conceptual framework , awareness of ...
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Contents
Early Foreign Trade Doctrines | 11 |
The English Mercantilist Literature | 26 |
The Emergence of Free Trade Thought | 45 |
Physiocracy and Moral Philosophy | 64 |
Adam Smiths Case for Free Trade | 75 |
Free Trade in Classical Economics | 87 |
Torrens and the Terms of Trade Argument | 101 |
Mill and the Infant Industry Argument | 116 |
Manoilescu and the Wage Differential Argument | 153 |
The Australian Case for Protection | 172 |
The Welfare Economics of Free Trade | 180 |
Keynes and the Macroeconomics of Protection | 189 |
Strategic Trade Policy | 207 |
The Past and Future of Free Trade | 217 |
References | 231 |
253 | |