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 Walters (1996), Does the World Need a World Bank?
8. Fred L. Smith, Jr. (1996), Trade and the Environment: Where Are We Going?
9. Paul Collier (1998), Living Down the Past: How Europe Can Help Africa Grow
10. David Henderson (1998), Part 2: The Uneasy Trend to Economic Liberalism
11. Marcus Noland (1999), The New Protectionists: The Privatisation of US Trade Policy
12. Lord Harris of High Cross (2002), Adam Smith: Revolutionary for the Third Millennium
13. Charles W. Calomiris (2002), A Globalist Manifesto for Public Policy: The Tenth Annual IEA Hayek Memorial Lecture
14. Forrest Capie (2002), Capital Controls: A Cure Worse than the Problem?
15. Deepak Lal (2003), In Defence of Empires
16. Daniel T. Griswold (2003), Migration, Globalisation and the Spirit of Peter Bauer
17. Andrew Ryder (2003), Anti-Globalisation: Bad Wine in New Bottles?
18. David Henderson (2004), Globalisation, Civil Society and Global Governance and Global Salvationism and Consensus Pressures
19. Gerald P. ODriscoll, Jr. and Sara F. Cooper (2005), International Trade and Global Stability
20. E.J. Mishan (2005), Can Globalisation Depress Living Standards in the West?
21. John Meadowcroft (2006), Free Trade, Pauper Labour and Prosperity: A Reply to Professor Mishan
22. E.J. Mishan (2006), A Rejoinder to John Meadowcroft
23. Krisztina Kis-Katos and Günther G. Schulze (2005), Regulation of Child Labour
24. Jasson Urbach (2007), Development Goes Wireless
25. Eamonn Butler (2007), The Wealth of Nations, in Adam Smith: A Primer
26. Philip Booth and Linda Whetstone (2007), Half a Cheer for Fair Trade
27. Razeen Sally (2008), Trade Policy, New Century: The WTO, FTAs and Asia Rising