LEADER 04152nam 2200685 a 450 001 9910457454803321 005 20200520144314.0 010 $a1-280-49947-8 010 $a9786613594709 010 $a0-262-29862-7 035 $a(CKB)2550000000087296 035 $a(EBL)3339391 035 $a(SSID)ssj0000600139 035 $a(PQKBManifestationID)11361923 035 $a(PQKBTitleCode)TC0000600139 035 $a(PQKBWorkID)10599413 035 $a(PQKB)10177471 035 $a(MiAaPQ)EBC3339391 035 $a(OCoLC)776201960$z(OCoLC)785779647$z(OCoLC)794619364$z(OCoLC)871888587$z(OCoLC)961616643$z(OCoLC)962690548$z(OCoLC)988416092$z(OCoLC)988487423$z(OCoLC)992022573$z(OCoLC)1037902680$z(OCoLC)1038682861$z(OCoLC)1038697175$z(OCoLC)1055405060$z(OCoLC)1066415561$z(OCoLC)1081293515 035 $a(OCoLC-P)776201960 035 $a(MaCbMITP)8886 035 $a(Au-PeEL)EBL3339391 035 $a(CaPaEBR)ebr10531190 035 $a(CaONFJC)MIL359470 035 $a(OCoLC)776201960 035 $a(EXLCZ)992550000000087296 100 $a20110428d2012 uy 0 101 0 $aeng 135 $aurcnu---unuuu 181 $ctxt 182 $cc 183 $acr 200 10$aTrade policy disaster$b[electronic resource] $elessons from the 1930s /$fDouglas A. Irwin 210 $aCambridge, Mass. $cMIT Press$dc2012 215 $a1 online resource (211 p.) 225 1 $aThe Ohlin lectures 300 $aDescription based upon print version of record. 311 $a0-262-01671-0 320 $aIncludes bibliographical references and index. 327 $aThe Great Depression and the rise of protectionism -- The policy dilemma : protection or devaluation? -- Trade restrictions and exchange rate adjustment : choice and consequences -- Conclusions. 330 $aThe extreme protectionism that contributed to a collapse of world trade in the 1930's is examined in light of the recent economic crisis. The recent economic crisis--with the plunge in the stock market, numerous bank failures and widespread financial distress, declining output and rising unemployment--has been reminiscent of the Great Depression. The Depression of the 1930's was marked by the spread of protectionist trade policies, which contributed to a collapse in world trade. Although policymakers today claim that they will resist the protectionist temptation, recessions are breeding grounds for economic nationalism, and countries may yet consider imposing higher trade barriers. In Trade Policy Disaster, Douglas Irwin examines what we know about trade policy during the traumatic decade of the 1930's and considers what we can learn from the policy missteps of the time. Irwin argues that the extreme protectionism of the 1930's emerged as a consequence of policymakers' reluctance to abandon the gold standard and allow their currencies to depreciate. By ruling out exchange rate changes as an adjustment mechanism, policymakers turned instead to higher tariffs and other means of restricting imports. He offers a clear and concise exposition of such topics as the effect of higher trade barriers on the implosion of world trade; the impact of the Smoot-Hawley tariff of 1930; the reasons some countries adopted draconian trade restrictions (including exchange controls and import quotas) but others did not; the effect of preferential trade arrangements and bilateral clearing agreements on the multilateral system of world trade; and lessons for avoiding future trade wars. 410 0$aOhlin lectures. 606 $aCommercial policy$xHistory 606 $aProtectionism$xHistory 606 $aFree trade$xHistory 606 $aForeign exchange rates$xHistory 608 $aElectronic books. 615 0$aCommercial policy$xHistory. 615 0$aProtectionism$xHistory. 615 0$aFree trade$xHistory. 615 0$aForeign exchange rates$xHistory. 676 $a382/.309043 700 $aIrwin$b Douglas A.$f1962-$0126329 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910457454803321 996 $aTrade policy disaster$92211112 997 $aUNINA