Protectionism is back on the agenda as the financial crisis deepens. With calls for measures that purport to protect low income workers growing louder in the West, it is essential that the economic arguments in favour of free trade and globalization are re-emphasised.
Philip Booth and Richard Wellings have brought together key papers originally published by the Institute of Economic Affairs, which, for the past 50 years, has been vigorously defending the case for free trade, and for globalization more generally. These important papers, which are not widely available, trace the development of the debate on the benefits of free trade during the last 50 years.
The editors have written an authoritative introduction which offers a comprehensive overview of the arguments for and against globalization.
'This splendid collection of essays from the past publications of the IEA, with their reiteration of the case for free trade and the accompanying process of globalization, is very timely.' Deepak Lal, University of California at Los Angeles, US
'A lucidly expert presentation of the convincing and enduring arguments for free trade all now urgent reading, at a time when protectionism is on the march and the market economy everywhere under threat.' The Rt. Hon. The Lord Howe of Aberavon
2009, Published by Edward Elgar and the IEA, ISBN 978 1 84844 575 8, 736pp, HB
Foreword Deepak Lal
Introduction Philip Booth and Richard Wellings
1. Harry G. Johnson (1969), On Demolishing Barriers to Trade
2. David Greenaway and Christopher Milner (1979), Identifying The Protective Motive: A. Electoral Influences, and B. Intervention and Market Failure
3. Deepak Lal ( 1997), Introduction, The External Environment I: Trade and The External Environment II: Commodities and Foreign Capital
4. David Greenaway (1988), The Politics of Protection
5. Charles Mensah (1991), Economic Freedom for Africa
6. Jagdish Bhagwati (1995), Free Trade, Fairness and the New Protectionism
7. Sir Alan Walter