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A Foreign Affairs Best Book of the Year: “Tells the history of American trade policy . . . [A] grand narrative [that] also debunks trade-policy myths.” —Economist Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in the Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin’s Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation—first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. “Combines scholarly analysis with a historian’s eye for trends and colorful details . . . readable and illuminating, for the trade expert and for all Americans wanting a deeper understanding of America’s evolving role in the global economy.” —National Review “Magisterial.” —Foreign Affairs
After the Galleons tracks the progress of Philippine foreign trade in the nineteenth century from the end of the galleon trade to the Philippine Revolution. Distributed for the Center for Southeast Asian Studies at the University of Wisconsin–Madison.
A Comparative History of Commerce and Industry, Volume II offers a subjective review of how the cultural, social and economic institutions of commerce and industry evolved in industrialized nations to produce the institution we now know as business enterprise.
The United States is entering a period of profound uncertainty in the world political economy--an uncertainty which is threatening the liberal economic order that its own statesmen created at the end of the Second World War. The storm surrounding this threat has been ignited by an issue that has divided Americans since the nation's founding: international trade. Is America better off under a liberal trade regime, or would protectionism be more beneficial? The issue divided Alexander Hamilton from Thomas Jefferson, the agrarian south from the industrializing north, and progressives from robber barons in the Gilded Age. In our own times, it has pitted anti-globalization activists and manufacturing workers against both multinational firms and the bulk of the economics profession. Ambassador C. Donald Johnson's The Wealth of a Nation is an authoritative history of the politics of trade in America from the Revolution to the Trump era. Johnson begins by charting the rise and fall of the U.S. protectionist system from the time of Alexander Hamilton to the Smoot-Hawley Tariff of 1930. Challenges to protectionist dominance were frequent and often serious, but the protectionist regime only faded in the wake of the Great Depression. After World War II, America was the primary architect of the liberal rules-based economic order that has dominated the globe for over half a century. Recent years, however, have seen a swelling anti-free trade movement that casts the postwar liberal regime as anti-worker, pro-capital, and--in Donald Trump's view--even anti-American. In this riveting history, Johnson emphasizes the benefits of the postwar free trade regime, but focuses in particular on how it has attempted to advance workers' rights. This analysis of the evolution of American trade policy stresses the critical importance of the multilateral trading system's survival and defines the central political struggle between business and labor in measuring the wealth of a nation.
What does it mean to be an American? What are American ideas and values? American Enterprise, the companion book to a major exhibition at the Smithsonian’s National Museum of American History, aims to answer these questions about the American experience through an exploration of its economic and commercial history. It argues that by looking at the intersection of capitalism and democracy, we can see where we as a nation have come from and where we might be going in the future. Richly illustrated with images of objects from the museum’s collections, American Enterprise includes a 1794 dollar coin, Alexander Graham Bell’s 1876 telephone, a brass cash register from Marshall Fields, Sam Walton’s cap, and many other goods and services that have shaped American culture. Historical and contemporary advertisements are also featured, emphasizing the evolution of the relationship between producers and consumers over time. Interspersed in the historical narrative are essays from today’s industry leaders—including Sheila Bair, Adam Davidson, Bill Ford, Sally Greenberg, Fisk Johnson, Hank Paulson, Richard Trumka, and Pat Woertz—that pose provocative questions about the state of contemporary American business and society. American Enterprise is a multi-faceted survey of the nation’s business heritage and corresponding social effects that is fundamental to an understanding of the lives of the American people, the history of the United States, and the nation’s role in global affairs.
Late seventeenth- and early eighteenth-century England - the period between the Restoration and the South Sea Bubble - was dramatically transformed by the massive cost of fighting wars, and, significantly, a huge increase in the re-export trade. This book seeks to ask how commerce was legitimated, promoted, fashioned, defined and understood in this period of spectacular commercial and financial 'revolution'. It examines the packaging and portrayal of commerce, and of commercial knowledge, positioning itself between studies of merchant culture on the one hand and of the commercialisation of society on the other. It focuses on four main areas: the Royal Exchange where the London trading community gathered; sermons preached before mercantile audiences; periodicals and newspapers concerned with trade; and commercial didactic literature. Dr NATASHA GLAISYER teaches in the Department of History at the University of York.
A Comparative History of Commerce and Industry, Volume I offers a subjective review of how the cultural, social and economic institutions of commerce and industry evolved in industrialized nations to produce the institution we now know as business enterprise.