Trade policy disaster : lessons from the 1930s /

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Bibliographic Details
Author / Creator:Irwin, Douglas A., 1962-
Imprint:Cambridge, Mass. : MIT Press, ©2012.
Description:1 online resource (xv, 195 pages) : illustrations
Language:English
Series:The Ohlin lectures
Ohlin lectures.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/11124781
Hidden Bibliographic Details
ISBN:9780262298629
0262298627
9780262016711
0262016710
1280499478
9781280499470
9786613594709
6613594709
Digital file characteristics:data file
Notes:Includes bibliographical references and index.
English.
Print version record.
Summary: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.
Other form:Print version: Irwin, Douglas A., 1962- Trade policy disaster. Cambridge, Mass. : MIT Press, ©2012 9780262016711
Standard no.:9786613594709

MARC

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490 1 |a The Ohlin lectures 
504 |a Includes bibliographical references and index. 
505 0 |a The Great Depression and the rise of protectionism -- The policy dilemma : protection or devaluation? -- Trade restrictions and exchange rate adjustment : choice and consequences -- Conclusions. 
588 0 |a Print version record. 
520 |a 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. 
546 |a English. 
650 0 |a Commercial policy  |x History. 
650 0 |a Protectionism  |x History. 
650 0 |a Free trade  |x History. 
650 0 |a Foreign exchange rates  |x History. 
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650 7 |a BUSINESS & ECONOMICS  |x International  |x General.  |2 bisacsh 
650 7 |a BUSINESS & ECONOMICS  |x International  |x Marketing.  |2 bisacsh 
650 7 |a POLITICAL SCIENCE  |x International Relations  |x Trade & Tariffs.  |2 bisacsh 
650 7 |a Commercial policy.  |2 fast  |0 (OCoLC)fst00869569 
650 7 |a Foreign exchange rates.  |2 fast  |0 (OCoLC)fst00931816 
650 7 |a Free trade.  |2 fast  |0 (OCoLC)fst00933944 
650 7 |a Protectionism.  |2 fast  |0 (OCoLC)fst01079619 
653 |a ECONOMICS/Trade & Development 
655 0 |a Electronic books. 
655 4 |a Electronic books. 
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