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0 Acknowledgments

1 Chapter 1 - Trade and trade issues

1 The themes of the book

3 The importance of trade and the trade balance

10 The dilemmas of international trade

15 Choices for the individual

17 Policy alternatives

18 The search for competitiveness

22 Export promotion and industrial policy

24 Lowering global trade barriers

26 Forms of import restrictions

29 Conclusion: choosing a trade policy

233 Endnotes

32 Chapter 2 - The theoretical and historical origins of trade issues

32 Liberalism and mercantilism

34 Mercantilist trade policy

45 The roots of mercantilism

51 The demise of mercantilism and the birth of liberalism

52 The rise of the market

58 The advent of free trade theory

66 The political conflict over the Corn Laws

75 Conclusion: the triumph of free trade

234 Endnotes

 

77 Chapter 3 - The politics of protectionism

77 Cycles of global mercantilism and liberalism

79 The reaction to laissez-faire

82 The rise of the working class and political democracy

85 Modern elaborations of liberal trade theory

88 The class distributional impact of trade

90 The distributional politics of trade policy

94 The effects of market dominance and decline

98 Trade and the Great Depression

101 Conclusion: the sources of policy cycles

238 Endnotes

 

103 Chapter 4: The international politics of trade

103 The origins of Bretton Woods

105 Hegemonic stability theory and American global leadership

108 Liberal interdependence and peace

111 The ideals and institutions of the Bretton Woods system

112 The Principles GATT

119 The financial institutions of the Bretton Woods system

127 The Uruguay Round of GATT

133 Conclusion: trade dilemmas and international institutions

242 Endnotes

 

135 Chapter 5: Neo-mercantilism and bilateral trade issues

135 US - Japanese trade tensions

140 The effects of international trade on the state

144 Differences in trade policies

145 Japanese trade policy

154 Strategic trade theory and policy

158 The different roots of American and Japanese trade policy

163 Contemporary American trade policy

167 Recent trade disputes

174 Conclusion: the future of American-Japanese relations

245 Endnotes

 

177 Chapter 6 - Regional integration

177 The evolution of the European Union

179 Integration: liberal on the inside and mercantilist on the outside

181 The mercantilist roots of the EU

183 The liberal roots of the EU

184 The political roots of the EU

191 The dilemmas posed by exchange rate policy

195 The North American Free Trade Agreement

197 Motivations for NAFTA

202 The dilemmas in NAFTA and the political response

203 The dilemma of national sovereignty

206 The distributional dilemma and the politics of labor issues

211 The dilemma of value trade-offs and environmental politics

213 Conclusion: lessons from NAFTA

251 Endnotes

 

217 Chapter 7 - Looking Ahead

217 Missions reviewed

219 Mercantilism and liberalism: a summary perspective

223 Future challenges

229 Conclusion: individual choices

259 Endnotes

 

230 Discussion Questions

233 Endnotes

260 Suggested Readings

264 Glossary