Title
Against the Tide: An Intellectual History of Free Trade,New
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About 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.Irwin traces the origins of the free trade doctrine from premercantilist times up to Adam Smith and the classical economists. In lucid and careful terms he shows how Smith's compelling arguments in favor of free trade overthrew mercantilist views that domestic industries should be protected from import competition. Once a presumption about the economic benefits of free trade was established, various objections to free trade arose in the form of major arguments for protectionism, such as those relating to the terms of trade, infant industries, increasing returns, wage distortions, income distribution, unemployment, and strategic trade policy. Discussing the contentious historical controversies surrounding each of these arguments, Irwin reveals the serious analytical and practical weaknesses of each, and in the process shows why free trade remains among the most durable and robust propositions that economics has to offer for the conduct of economic policy.
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- Q: What is the main theme of 'Against the Tide: An Intellectual History of Free Trade'? A: The main theme of the book is the intellectual history and enduring significance of free trade, tracing its development from mercantilist views to contemporary economic thought.
- Q: Who is the author of this book? A: The author of 'Against the Tide' is Douglas A. Irwin, an expert in the field of economic history.
- Q: What are the key arguments presented in the book regarding free trade? A: The book discusses how free trade has withstood various theoretical attacks and critiques, providing counterarguments to protectionist views and explaining its economic benefits.
- Q: Is this book suitable for readers without a background in economics? A: Yes, the book is written in accessible, non-technical language, making it suitable for general readers interested in economic concepts.
- Q: How many pages does 'Against the Tide' have? A: The book contains 280 pages.
- Q: What type of binding does this book have? A: The book is available in paperback binding.
- Q: When was 'Against the Tide' published? A: The book was published on December 22, 1997.
- Q: What condition is the book in? A: The book is listed as 'New' condition.
- Q: Does the book provide historical context for the arguments made? A: Yes, it traces the origins of free trade doctrine and discusses historical controversies related to protectionism.
- Q: Is there a specific edition of the book that is recommended? A: The book is available in a reprint edition, which is often recommended for current readers.