dunnettreader + protectionism   16

Barry Eichengreen - The Political Economy of the Smoot-Hawley Tariff (1986) - NBER
The Political Economy of the Smoot-Hawley Tariff
Barry Eichengreen
NBER Working Paper No. 2001
Issued in August 1986
NBER Program(s):   ITI   DAE   IFM
Economic histories of the interwar years view the Great Depression and the Smoot Hawley Tariff as inextricably bound up with one another. They assign a central role to the Depression in explaining the passage of the 1930 Tariff Act and at the same time emphasize the role of the tariff in the propogation of the Depression. This paper argues that popular accounts have conveyed what is at best an incomplete and at worst a misleading impression of the relationship between the tariff and the Depression. Rather than simply strengthening the hand of a Republican Executive predisposed toward protection or increasing the burden borne by a depressed agricultural sector, the uneven impact of the Depression occasioned the birth of a new protectionist coalition comprised of producers particularly hard hit by import competition: border agriculture and small-scale industry engaged in the production of speciality goods. Rather than leading to a dramatic across-the-board decline in the volume of U.S. imports, the tariff had very different effects across sectors. Rather than worsening the Great Depression by reducing foreign demands for U.S. exports, the direct macroeconomic effect of the tariff is likely to have been expansionary. This remains true even when feedbacks to the United States and foreign retaliation are analyzed. In any case, relative to the Depression, the direct macroeconomic effects of the tariff were small. If Smoot-Hawley had significant macroeconomic effects, these operated instead through its impact on the stability of the international monetary system and the efficiency of the international capital market.
competition-interstate  trade-agreements  economic_history  Great_Depression  NBER  trade  trade-policy  protectionism  economic_theory  20thC  entre_deux_guerres  revisionism  paywall  paper  Smoot-Hawley  race-to-the-bottom 
october 2016 by dunnettreader
Kevin O'Rourke and Alan Taylor - Democracy and Protectionism (2006)
Abstract
Does democracy encourage free trade? It depends. Broadening the franchise involves transferring power from non-elected elites to the wider population, most of whom will be workers. The Hecksher-Ohlin-Stolper-Samuelson logic says that democratization should lead to more liberal trade policies in countries where workers stand to gain from free trade; and to more protectionist policies in countries where workers will benefit from the imposition of tariffs and quotas. We test and confirm these political economy implications of trade theory hypothesis using data on democracy, factor endowments, and protection in the late nineteenth century. -- published in MIT Press collection in honor of Jeffrey Williamson - The New Comparative Economics -- downloaded via iPhone to DBOX
working_class  economic_history  business-and-politics  protectionism  political_participation  trade  government-forms  trade-policy  downloaded  democracy  political_economy  elites  paper 
august 2016 by dunnettreader
R. Esteves - The Political Economy of Global Financial Liberalisation in Historical Perspective (2011) Oxford Economic and Social Sciences WP
Abstract
This paper is a first attempt to garner the theory and evidence on the political economy of the first wave of financial liberalisation during the nineteenth and early twentieth century, and of its demise after World War I. Not everyone gained from the process of globalisation (of trade, labour, and finance), which brought about important changes in the structure of the economy and the distribution of income in nations across the world. This paper explores how the economic incentives generated by these dislocations translated, through the political system, into choices about openness to foreign capital and financial integration. The period before World War I is remarkable by the almost absence of restrictions on cross-border capital flows, which may explain the little attention it has received in the historical literature, compared to the extensive study of trade protectionism in this period. After the War, many countries experimented with capital controls which varied in nature and intensity and were intensified during the Depression. Despite the attempt made here to reconcile these stylized facts to models of political economy, the analysis requires a better empirical foundation and some suggestions for further research are also proposed. - Downloaded via iPhone to DBOX.
financial_regulation  economic_growth  pre-WWI  20thC  protectionism  downloaded  gold_standard  international_finance  financial_system  trade-policy  trade  19thC  capital_flows  capital_controls  globalization  deregulation  free_trade  paper  economic_history  financial_innovation  political_economy 
august 2016 by dunnettreader
Richard Tuck - István Hont and Rousseau and Smith’s radical resemblances | TLS
Rousseau and Smith’s radical resemblances -- RICHARD TUCK -- István Hont, POLITICS IN COMMERCIAL SOCIETY Jean-Jacques Rousseau and Adam Smith Edited by Béla Kapossy and…
Instapaper  books  reviews  kindle-available  intellectual_history  18thC  Rousseau  Smith  political_economy  commerce  protectionism  economic_growth  community  market-size_of  moral_philosophy  political_philosophy  human_nature  from instapaper
february 2016 by dunnettreader
Jennifer Pitts, review - Isaac Nakhimovsky, The Closed Commercial State: Perpetual Peace and Commercial Society from Rousseau to Fichte | Perspectives on Politics, March 2013 on Isaac Nakhimovsky - Academia.edu
This book presents an important new account of Johann Gottlieb Fichte's Closed Commercial State, a major early nineteenth-century development of Rousseau and Kant's political thought. Isaac Nakhimovsky shows how Fichte reformulated Rousseau's constitutional politics and radicalized the economic implications of Kant's social contract theory with his defense of the right to work. Nakhimovsky argues that Fichte's sequel to Rousseau and Kant's writings on perpetual peace represents a pivotal moment in the intellectual history of the pacification of the West. Fichte claimed that Europe could not transform itself into a peaceful federation of constitutional republics unless economic life could be disentangled from the competitive dynamics of relations between states, and he asserted that this disentanglement required transitioning to a planned and largely self-sufficient national economy, made possible by a radical monetary policy. Fichte's ideas have resurfaced with nearly every crisis of globalization from the Napoleonic wars to the present, and his book remains a uniquely systematic and complete discussion of what John Maynard Keynes later termed "national self-sufficiency." Fichte's provocative contribution to the social contract tradition reminds us, Nakhimovsky concludes, that the combination of a liberal theory of the state with an open economy and international system is a much more contingent and precarious outcome than many recent theorists have tended to assume. -- downloaded pdf to Note
books  reviews  18thC  19thC  intellectual_history  Germany  France  commerce  IR_theory  international_political_economy  international_system  international_law  luxury  trade-policy  protectionism  import_substitution  monetary_policy  French_Revolution  Rousseau  Kant  Fichte  civil_society  civil_liberties  rights-political  perpetual_peace  competition-interstate  free_trade  globalization  imperialism  downloaded 
march 2015 by dunnettreader
Frederick Neuhouser, review - Isaac Nakhimovsky, The Closed Commercial State: Perpetual Peace and Commercial Society from Rousseau to Fichte | Notre Dame Philosophical Reviews - Nov 2011
Frederick Neuhouser, Barnard College -- Isaac Nakhimovsky has accomplished what I had thought to be impossible: he has made Fichte's The Closed Commercial State (1800) into an interesting text. By carefully situating this long-neglected work within its historical and philosophical context, Nakhimovsky enables us to see it as more than a misguided attempt by a major philosopher to address the political issues of his day by inventing a utopian vision of the free republic so obviously fantastic that it was widely dismissed as such by most of Fichte's own contemporaries. To his credit, Nakhimovsky does not deny the silliness of many of the details of that vision. What he shows, however, is the urgency -- and, more importantly, the continuing relevance -- of the central problem that Fichte's text attempts to solve: how to reconcile a Rousseauean ideal of free citizenship with the realities of modern "commercial" societies (marked, in Fichte's time, by a decline in agriculture in favor of industry and a rapidly increasing division of labor). Since the principal conflict here is the threat posed by international trade relations to the freedom and economic well-being of the citizens of republics enmeshed in those relations, it is not difficult (with Nakhimovsky's assistance) to see this seemingly most untimely of texts as addressing what is merely an earlier version of the same conflict that stands, even today, at the center of Europe's woes. One of the great strengths of Nakhimovsky's book is that it treats The Closed Commercial State as standing in a long line of seventeenth- and eighteenth-century texts that debate the implications for international peace of what we would call "globalized" commerce. (Kant's Perpetual Peace [1795] is the best known of these texts, it merely continues a much longer tradition that includes works by Fenélon, l'Abbé de Saint-Pierre, Rousseau, Sieyès, and many others.) -- downloaded as pdf to Note
books  reviews  18thC  19thC  intellectual_history  Germany  France  commerce  IR_theory  international_political_economy  international_system  international_law  luxury  trade-policy  protectionism  import_substitution  monetary_policy  French_Revolution  Rousseau  Kant  Fichte  civil_society  civil_liberties  rights-political  perpetual_peace  competition-interstate  free_trade  globalization  imperialism  downloaded 
march 2015 by dunnettreader
Réka Juhász: Temporary Protection and Technology Adoption: Evidence from the Napoleonic Blockade - LSE job market paper -Brad DeLong
Réka Juhász: Temporary Protection and Technology Adoption: Evidence from the Napoleonic Blockade: "I find that, in the short-run... ...regions in the French Empire which became better-protected from trade with the British for exogenous reasons during the Napoleonic Wars... increased capacity in... mechanised cotton spinning to a larger extent than regions which remained more exposed to trade. Temporary protection had long term effects.... Firms located in regions with higher post-war spinning capacity were more productive 30 years later.... After... peace, exports of cotton goods from France increased substantially, consistent with evolving comparative advantage in cottons.... As late as 1850, France and Belgium... had larger cotton spinning industries than other Continental European countries... not protected from British trade during the wars...
paper  downloaded  economic_history  industrialization  19thC  trade  protectionism  competition  infant_industries  Britain  France  Napoleonic_wars 
january 2015 by dunnettreader
Zhijie Chen, Jing Zhuo - The Trade and Culture Debate in the Context of Creative Economy: An Adaptive Regulatory Approach from Fragmentation to Coherence :: SSRN June 16, 2014
Zhijie Chen - The University of Hong Kong (PhD Student) -- Jing Zhuo - University of Macau. -- Fourth Biennial Global Conference of the Society of International Economic Law (SIEL) Working Paper No 2014/07. **--** The trade and culture debate has been a long tension without a definite result. It has been widely argued that neither the existing WTO regulatory framework nor the UNESCO Convention on the Protection and Promotion of the Diversity of Cultural Expression can address the debate. More recently, some emerging domains in the digital age, including digital technology and intellectual property rights, have posed crucial challenges These trends invite the careful reconsideration of the role of law, the dominant legal responses and regulatory approaches; however they have not been paid due attention. This paper investigates a possibly more adaptive regulatory approach for the trade and culture debate under the changed regulatory environment. Compared with cultural industries, it appears that creative industries tend to more properly reflect the status quo of the current economy, and the concept of creative economy could be employed as the concept to design a new regulatory approach for the debate in the digital age. For the WTO regulatory framework, a two-steps approach could be considered. The first step is to formulae the ‘creative economy’ as a legal concept, followed by the second step of introducing the concept into the WTO regulatory framework. It is suggested that such approach could be a more adaptive and coherent regulatory approach for the trade and culture debate in the digital age. -- Number of Pages: 41 - downloaded pdf to Note
paper  SSRN  international_law  international_economics  law-and-economics  international_political_economy  global_governance  UN  UNESCO  culture  diversity  trade-policy  WTO  creative_economy  regulation  regulation-harmonization  digital_humanities  technology  Innovation  convergence-business  globalization  national_interest  public_goods  free_trade  protectionism  IP  property_rights  downloaded  EF-add  change-social 
september 2014 by dunnettreader
Branko Milanovic - The Tale Of Two Middle Classes | Yale Global -July 2014
Far Right in Europe starting to agitate re middle class incomes in Asia growing vs stagnating or declining in West -- The rich have benefited immensely from globalization and they have keen interest in its continuation. But while their use of political power has enabled the continuation of globalization, it has also hollowed out national democracies and moved many countries closer to becoming plutocracies. Thus, the choice would seem either plutocracy and globalization – or populism and a halt to globalization. Another solution, one that involves neither populism nor plutocracy, would imply more substantial redistribution policies in the rich world. Some of the gains of the top 5 percent could go toward alleviating the anger of the lower- and middle-class rich world’s “losers.” These need not nor should be mere transfers of money from one group to another. Instead, money should come in the form of investments in public education, local infrastructure, housing and preventive health care. But the history of the last quarter century during which the top classes in the rich world have continually piled up larger and larger gains, all the while socially and mentally separating themselves from fellow citizens, does not bode well for that alternative.
international_political_economy  globalization  plutocracy  populism  right-wing  democracy  1-percent  public_goods  infrastructure  finance_capital  politics-and-money  OECD_economies  economic_growth  protectionism  trade-policy 
august 2014 by dunnettreader
Jeremy Waldron - Secularism and the Limits of Community (2010) :: SSRN
NYU School of Law, Public Law Research Paper No. 10-88 -- This paper addresses two issues: (1) the use of religious considerations in social and political argument; and (2) the validation of the claims of community against markets and other aspects of globalization. It argues that we should be very wary of the association of (1) with (2), and the use of (1) to reinforce (2). The claims of community in the modern world are often exclusionary (the word commonly associated with community is "gated") and hostile to the rights of the poor, the homeless, the outcast, and so on. The logic of community in the modern world is a logic that reinforces market exclusion and the disparagement of the claims of the poor. If religious considerations are to be used to uphold those claims and to mitigate exclusion, they need to be oriented directly to that task, and to be pursued in ways that by-pass the antithetical claims of community. Religious considerations are at their most powerful in politics - and are most usefully disconcerting - when they challenge the logic of community. -- Number of Pages in PDF File: 27
paper  SSRN  philosophy_of_law  political_philosophy  political_economy  globalization  inequality  exclusion  markets  markets_in_everything  community  communitarian  politics-and-religion  Rawls  human_rights  rights-legal  protectionism  poverty  EF-add 
july 2014 by dunnettreader
John Locke, Encouragement of Irish Linen Manufacture (August 1697) - Online Library of Liberty
John Locke, H.B. Fox Bourne, The Life of John Locke. In Two Volumes (London: Henry S. King, 1876). Vol. 2 pp. 363-372. 07/16/2014. <http://oll.libertyfund.org/titles/2332> -- Available as Facsimile PDF 352 KB This is a facsimile or image-based PDF made from scans of the original book -- Locke’s detailed proposals to encourage the Irish linen industry which was quoted in full in Fox Bourne’s The Life of John Locke (1876), vol. 2, pp. 363-372.
etexts  17thC  intellectual_history  British_history  British_politics  political_economy  Locke  biography  Ireland  Ireland-English_exploitation  industry  agriculture  protectionism  development  interest_groups  Parliament  Parliamentary_supremacy  Irish_Parliament  1690s  Whig_Junto  Board_of_Trade  UK_government-colonies  EF-add 
july 2014 by dunnettreader
Alfred Marshall - Industry and Trade (Vol 2) [1919] | Google Books
Vol 2 appears to be available only as a commercial ebook (price c $4) - Vol 1 is a full Google Books copy added to my Google_Books library -- Vol 2 looks interesting in his treatment of the English economy from at least the Black Death -- remarks on "mercantilism" and the economic policies of the British government in the mid 18thC (following Adam Smith characterized as"bad" and "selfish") -- Though the bulk of his work was completed before the turn of the 20th century, the global ramifications of World War I prompted him to reconsider his theories on international economics, and in 1919 he published the two-volume Industry and Trade. Here, in Volume II, he discusses. . how monopolies and competition impact prices . trusts and cartels in the American and German economies . the decline of class differences and advantages in industrial systems . unions, co-opts, and business federations . and much more.
books  etexts  Google_Books  economic_history  British_history  UK_economy  Germany  Prussia  mercantilism  merchants  international_political_economy  international_economics  trading_companies  trade-policy  trade  trade-agreements  17thC  18thC  19thC  20thC  Industrial_Revolution  industrialization  German_unification  monopolies  corporations  corporate_finance  labor  Labor_markets  wages  unions  imperialism  empire-and_business  US_economy  protectionism  Hamilton  Smith  free_trade  laisser-faire  institutional_economics  institution-building  firms-theory  EF-add 
june 2014 by dunnettreader
Abigail Swingen, review - Sheryllynne Haggerty. "Merely for Money"? Business Culture in the British Atlantic, 1750-1815 | H-Net Reviews
Haggerty demonstrates that successful merchants in the 18thC British Atlantic world operated in a culture that had socially constructed expectations for their behavior. Those who did not conform to that culture could find themselves left out of it altogether. This is most effectively demonstrated in her chapter on obligation. ...“obligation” did not simply reflect the necessity to pay off a debt. For some larger merchant houses, it meant not calling in debts too quickly especially at times of crisis -- 18thC merchants, although largely self-regulating, expected and desired a certain level of regulation and protection from the British state. This was especially true in terms of overseas and colonial trades. ...merchants felt that the state was “obligated” to protect them, considering the various ways they contributed to the imperial economy. --ultimately one questions how these crises, and the sophisticated ways the merchants responded to them, compared to earlier similar moments of upheaval. Overseas (especially colonial) merchants had formed lobbying groups, both informal and formal, since at least the late17thC, as the work of Alison Olson and Will Pettigrew demonstrates. Because there is little consideration of change over time, however, one does not get a clear sense of the overall significance of the period in question. -- one is left wondering about the broader implications of the ways in which merchants confronted and negotiated with the “formal” empire. The merchants were caught up in a transformative period in the transition to a global capitalist economy. -- high marks for archival work and applying Greif (new institutional_economics) and folks like Hobbit re business concepts
books  reviews  economic_history  18thC  19thC  British_history  British_politics  Atlantic  West_Indies  American_colonies  American_Revolution  slavery  merchants  mercantilism  protectionism  credit  creditors  trade-policy  trade_finance  British_Empire  British_foreign_policy  interest_groups  economic_culture  institutional_economics  obligation  business-and-politics  capitalism  globalization  global_economy  EF-add 
june 2014 by dunnettreader
Irving Fisher's 1918 Presidential Address to the American Economic Association (Brad DeLong's Grasping Reality...) - May 2014
Irving Fisher: Economists in Public Service: Annual Address of the President: Source: The American Economic Review, Vol. 9, No. 1, Supplement, Papers and Proceedings of the Thirty-First Annual Meeting of the American Economic Association (Mar., 1919), pp. 5-21 Published by: American Economic Association. Stable URL: http://www.jstor.org/stable/1813978 -- full text at Brad -- didn't download
article  jstor  intellectual_history  20thC  WWI  entre_deux_guerres  capitalism  democracy  democratic_peace_theory  Germany  nationalism  protectionism  free_trade  labor  wages  inequality  inheritance  profit  entrepreneurs  health_care  social_order  social_insurance  economic_theory  economic_culture  economic_reform  finance_capital  firms-theory  management  managerialism  EF-add 
may 2014 by dunnettreader

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