The Smoot Hawley Tariff Act Revisited

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The Smoot-Hawley Tariff Act Revisited

Bernard C. Beaudreau
The Smoot Hawley Tariff Act Revisited Book PDF

Author : Bernard C. Beaudreau
Publisher : Cambridge Scholars Publishing
Page : 148 pages
File Size : 42,6 Mb
Release : 2020-02-28
Category : Business & Economics
ISBN : 9781527547773

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The Smoot-Hawley Tariff Act Revisited by Bernard C. Beaudreau Pdf

The Smoot-Hawley Tariff Act of 1930 remains one of the most enigmatic pieces of legislation in the 20th century. Held by some to have caused the Great Depression, and by others to have worsened it, the Act’s underlying motives continue to be the subject of vigorous debate. For example, Dartmouth College economic historian and trade expert Douglas Irwin pointed to a political ploy on the part of the Republican Party to avert electoral defeat in 1928 by the Mid-West farm lobby. This book presents an alternative view, based in large measure on recently published studies. It is argued that the Smoot-Hawley Tariff Act should be understood as the Republican Party’s attempt at closing a widening output gap in the US, resulting from the widespread adoption of a new power transmission technology in the form of electric unit drive (EUD). Electric unit drive, by providing the wherewithal to increase machine speed considerably, resulted in productivity gains in the 40-100 percent range. Existing plant and equipment was now vastly more productive as a result of greater machine speeds. The book consists of six papers, five of which were previously published.

The Rate and Direction of Inventive Activity Revisited

Josh Lerner,Scott Stern
The Rate and Direction of Inventive Activity Revisited Book PDF

Author : Josh Lerner,Scott Stern
Publisher : University of Chicago Press
Page : 715 pages
File Size : 55,6 Mb
Release : 2012-04-15
Category : Art
ISBN : 9780226473031

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The Rate and Direction of Inventive Activity Revisited by Josh Lerner,Scott Stern Pdf

This volume offers contributions to questions relating to the economics of innovation and technological change. Central to the development of new technologies are institutional environments and among the topics discussed are the roles played by universities and the ways in which the allocation of funds affects innovation.

Globalization and Its Discontents Revisited: Anti-Globalization in the Era of Trump

Joseph E. Stiglitz
Globalization and Its Discontents Revisited Anti Globalization in the Era of Trump Book PDF

Author : Joseph E. Stiglitz
Publisher : W. W. Norton & Company
Page : 336 pages
File Size : 54,6 Mb
Release : 2017-11-28
Category : Business & Economics
ISBN : 9780393355222

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Globalization and Its Discontents Revisited: Anti-Globalization in the Era of Trump by Joseph E. Stiglitz Pdf

An International Bestseller "Accessible, provocative, and highly readable." —Alan Cowell, New York Times In this crucial expansion and update of his landmark bestseller, renowned economist and Nobel Prize winner Joseph E. Stiglitz addresses globalization’s new discontents in the United States and Europe. Immediately upon publication, Globalization and Its Discontents became a touchstone in the globalization debate by demonstrating how the International Monetary Fund, other major institutions like the World Bank, and global trade agreements have often harmed the developing nations they are supposedly helping. Yet globalization today continues to be mismanaged, and now the harms—exemplified by the rampant inequality to which it has contributed—have come home to roost in the United States and the rest of the developed world as well, reflected in growing political unrest. With a new introduction, major new chapters on the new discontents, the rise of Donald Trump, and the new protectionist movement, as well as a new afterword on the course of globalization since the book first appeared, Stiglitz’s powerful and prescient messages remain essential reading.

The Past is a Foreign Country - Revisited

David Lowenthal
The Past is a Foreign Country Revisited Book PDF

Author : David Lowenthal
Publisher : Cambridge University Press
Page : 679 pages
File Size : 55,7 Mb
Release : 2015-10
Category : History
ISBN : 9780521851428

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The Past is a Foreign Country - Revisited by David Lowenthal Pdf

A completely updated new edition of David Lowenthal's classic account of how we reshape the past to serve present needs.

Trading Blows

James Shoch
Trading Blows Book PDF

Author : James Shoch
Publisher : Univ of North Carolina Press
Page : 406 pages
File Size : 50,8 Mb
Release : 2001
Category : Political Science
ISBN : 0807849758

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Trading Blows by James Shoch Pdf

For the past two decades, trade policy has been high on the American political agenda, thanks to the growing integration of the United States into the global economy and the wealth of debate this development has sparked. Although scholars have explored ma

The Great Depression Revisited

K. Brunner
The Great Depression Revisited Book PDF

Author : K. Brunner
Publisher : Springer Science & Business Media
Page : 367 pages
File Size : 41,5 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789400981355

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The Great Depression Revisited by K. Brunner Pdf

The fateful days of the great stock market crash entered modem history almost 50 years ago to this day. The cyclic turning point of the U. S. economy oc curred, however, around June 1929, and economic activity receded substantial ly over the subsequent months. The onset of an economic downswing thus became clearly visible before the famous crash. But the October event stays in the public's mind as the symbol of the Great Depression. For nearly four years, until the spring of 1933, the U. S. economy plunged into a deep reces sion. Activity declined, prices fell, and there emerged a massive unemploy ment problem. The economy ultimately overcame this shock in 1933. Prices rose rapidly in spite of substantial margins of unusual resources. Activity ex panded, but occasionally at a somewhat hesitant rate. The expansion, however, was interrupted by another recession of major proportions during 1937-38. The tragic sequence of events shaped public consciousness and influenced new approaches and views in economic policymaking. The activist approach to "stabilization policy" and a wide range of regulatory policies were essentially justified in terms of this experience. These policies were crucially influenced by our understanding and interpretation of the Great Depression. The view of a radically unstable economic process perennially on the edge of serious collapse gained wide popularity and became a central element of the Keynesian tradi- 2 INTRODUCTION tion. It encouraged, with supplementary interpretations, an interventionist and expanding role of the government in our economic affairs.

Peddling Protectionism

Douglas A. Irwin
Peddling Protectionism Book PDF

Author : Douglas A. Irwin
Publisher : Princeton University Press
Page : 264 pages
File Size : 54,9 Mb
Release : 2017-10-24
Category : Business & Economics
ISBN : 9780691178066

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Peddling Protectionism by Douglas A. Irwin Pdf

The Smoot-Hawley tariff of 1930, which raised U.S. duties on hundreds of imported goods to record levels, is America's most infamous trade law. It is often associated with--and sometimes blamed for--the onset of the Great Depression, the collapse of world trade, and the global spread of protectionism in the 1930s. Even today, the ghosts of congressmen Reed Smoot and Willis Hawley haunt anyone arguing for higher trade barriers; almost single-handedly, they made protectionism an insult rather than a compliment. In Peddling Protectionism, Douglas Irwin provides the first comprehensive history of the causes and effects of this notorious measure, explaining why it largely deserves its reputation for combining bad politics and bad economics and harming the U.S. and world economies during the Depression. In four brief, clear chapters, Irwin presents an authoritative account of the politics behind Smoot-Hawley, its economic consequences, the foreign reaction it provoked, and its aftermath and legacy. Starting as a Republican ploy to win the farm vote in the 1928 election by increasing duties on agricultural imports, the tariff quickly grew into a logrolling, pork barrel free-for-all in which duties were increased all around, regardless of the interests of consumers and exporters. After Herbert Hoover signed the bill, U.S. imports fell sharply and other countries retaliated by increasing tariffs on American goods, leading U.S. exports to shrivel as well. While Smoot-Hawley was hardly responsible for the Great Depression, Irwin argues, it contributed to a decline in world trade and provoked discrimination against U.S. exports that lasted decades. Featuring a new preface by the author, Peddling Protectionism tells a fascinating story filled with valuable lessons for trade policy today.

The Roaring Twenties - Turning Up the Volume

Bernard C. Beaudreau
The Roaring Twenties Turning Up the Volume Book PDF

Author : Bernard C. Beaudreau
Publisher : Lulu.com
Page : 222 pages
File Size : 42,9 Mb
Release : 2019-06
Category : Business & Economics
ISBN : 9780359702510

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The Roaring Twenties - Turning Up the Volume by Bernard C. Beaudreau Pdf

In this Volume, the various measures taken by successive Administrations to fully utilize the new-found potential are examined critically. These include the Smoot-Hawley Tariff Act of 1930, the National Industrial Recovery Act of 1933 and the National Labor Relations Act of 1935. The readings in this case consist of my own published work on the topic over the course of the past decade. The articles in question set out to do two things, namely situate the relevant policy measure in the appropriate historical context, namely the presence of output gaps, and second, evaluate the efficacy or wisdom of the proposed policy measures. For example, contrary to popular belief, the Smoot-Hawley Tariff Act was a response to growing excess-capacity-related stagnation in the form of unemployment. Evidence is presented which shows that the output gaps referred to above were clearly on the minds of Ranking Republicans at the Kansas City National Convention in June 1928.

Research in Economic History

Christopher Hanes,Susan Wolcott
Research in Economic History Book PDF

Author : Christopher Hanes,Susan Wolcott
Publisher : Emerald Group Publishing
Page : 186 pages
File Size : 45,8 Mb
Release : 2017-08-15
Category : Business & Economics
ISBN : 9781787431201

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Research in Economic History by Christopher Hanes,Susan Wolcott Pdf

Volume 33 contains articles on the economic history of Europe, America and Asia and brings new analysis, and newly created datasets to address issues of interest. Two papers focus on the US and contribute to our understanding of the Great Depression.

Revisiting the Twentieth Century

Fred Metcalfe
Revisiting the Twentieth Century Book PDF

Author : Fred Metcalfe
Publisher : iUniverse
Page : 358 pages
File Size : 48,8 Mb
Release : 2001-03-22
Category : Biography & Autobiography
ISBN : 9780595156634

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Revisiting the Twentieth Century by Fred Metcalfe Pdf

Revisiting the Twentieth Century, as the title suggests, is a collection of the author's experiences from his childhood in St. Paul, Minnesota, to those of him and his family before their move to New Jersey from North Carolina in 1955. The story covers amusing anecdotes he experienced in his student years, in a variety of summer laboring jobs, his early days with 3M in St. Paul, his bachelor life in New York, the courtship of his wife, their life in the High Point, NC and his job as salesman and sales manager. These anecdotes illustrate what life was like during this period which was marked by two shooting world wars, a depression and the threat of nuclear destruction. Against this background of international tumult, a great transformation in lifestyle occurred in the United States. At the beginning of the story, no one in his neighborhood has a car or a radio. Even the telephone and the record player were of recent origin. Families or churches took care of relatives and the poor went to the poorhouse . The work week was sixty hours and payment for over-time was unheard of. Unions were fighting to improve the working man's lot in life, but were in their infancy. Neighborhood interdependency disappeared as the automobile shrunk distances and people achieved greater mobility. The change in lifestyle that occurred in this brief period seem somewhat unique in our history.

Clashing Over Commerce

Douglas A. Irwin
Clashing Over Commerce Book PDF

Author : Douglas A. Irwin
Publisher : University of Chicago Press
Page : 873 pages
File Size : 50,5 Mb
Release : 2017-11-29
Category : Political Science
ISBN : 9780226399010

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Clashing Over Commerce by Douglas A. Irwin Pdf

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

The Political Economy of International Trade

Jae Wan Chung
The Political Economy of International Trade Book PDF

Author : Jae Wan Chung
Publisher : Lexington Books
Page : 276 pages
File Size : 50,5 Mb
Release : 2006
Category : Business & Economics
ISBN : 0739112929

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The Political Economy of International Trade by Jae Wan Chung Pdf

As both trade deficits and fiscal deficits steadily increased during the 1980s in the U.S., free trade has not stood without its share of suffering. Chung investigates American trade policy from the perspectives of U.S. trade laws and international trade agreements by outlining the primary trade laws of the past; considering the trade laws of the present; and delving into various trade agreements, disputes, and reforms.

Order and Justice in International Relations

Rosemary Foot,John Lewis Gaddis,Andrew Hurrell
Order and Justice in International Relations Book PDF

Author : Rosemary Foot,John Lewis Gaddis,Andrew Hurrell
Publisher : OUP Oxford
Page : 328 pages
File Size : 53,5 Mb
Release : 2003
Category : International relations
ISBN : 9780199251209

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Order and Justice in International Relations by Rosemary Foot,John Lewis Gaddis,Andrew Hurrell Pdf

This work analyses the relationship between international order and justice in the study and practice of 20th and 21st century international relations. Particular attention is given to the topic of globalization.

The Role of International Institutions in Globalisation

John-ren Chen
The Role of International Institutions in Globalisation Book PDF

Author : John-ren Chen
Publisher : Edward Elgar Publishing
Page : 227 pages
File Size : 41,9 Mb
Release : 2003-10-29
Category : Business & Economics
ISBN : 9781781008867

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The Role of International Institutions in Globalisation by John-ren Chen Pdf

In an increasingly globalised world, it is becoming ever more difficult for nation states to adapt to the international consequences of market failures, government failures and global externalities without co-operation and co-ordination with other countries. In the absence of any form of world government, the most effective solution to this problem is either to create new international institutions, reform existing ones or work within the prevailing institutional framework.

Great Depression, The: Its Origins In Acceleration And Electric Unit Drive

Bernard C Beaudreau
Great Depression The Its Origins In Acceleration And Electric Unit Drive Book PDF

Author : Bernard C Beaudreau
Publisher : World Scientific
Page : 284 pages
File Size : 53,6 Mb
Release : 2023-01-12
Category : Business & Economics
ISBN : 9789811264290

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Great Depression, The: Its Origins In Acceleration And Electric Unit Drive by Bernard C Beaudreau Pdf

This book is part of a new generation of work on the events of the 1920s and 1930s, one that provides a gestalt view of this period. As such, the many events that have until now been viewed as unrelated, are viewed as parts of a greater whole, namely the introduction of a new power drive technology in the form of electric unit drive and its effects. The Roaring Twenties, the spectacular growth of the 1920s, the Smoot-Hawley Tariff Act, the Stock Market Boom and Crash, the decline in investment expenditure, the ensuing depression and the National Industrial Recovery Act are all shown to be related.