Protectionism and World Welfare [Paperback]

Analysis of the recent deterioration in the liberal international trade system by leading trade experts.Essays by economists specializing in the policy and practice of trade theory examine the recent deterioration in the liberal multilateral trading system, the movement toward protectionism, bilateralism and regionalism, and its causes, effects, and possible solutions.Essays by economists specializing in the policy and practice of trade theory examine the recent deterioration in the liberal multilateral trading system, the movement toward protectionism, bilateralism and regionalism, and its causes, effects, and possible solutions.Many of the world's most distinguished economists examine the recent deterioration in the liberal multilateral trading system, the movement toward protectionism, bilateralism and regionalism, and its causes, effects, and possible solutions. The contributors are at the forefront of trade theory, policy and practice, and by collecting together these analyses in a single volume, this book provides a unique survey for students and scholars of economics, and all those concerned with trade theory and policy in business and government.1. Protectionism and world welfare: introduction Dominick Salvatore; Part I. The New Protectionism: An Overview: 2. Fair trade, reciprocity and harmonization: the novel challenge to the theory and policy of free trade Jagdish N. Bhagwati; 3. The revival of protectionism in developed countries W. Max Corden; 4. Changes in the global trading system: a response to shifts in national economic power Robert E. Baldwin; 5. 'Fortress Europe' and retaliatory economic warfare Lawrence R. Klein and Pingfan Hong; Part II. Trade Theory, Industrial Policies and Protectionism: 6. The changing structure of US trade William H. Branson; 7. US response to foreign industrial policies Richard N. Cooper; 8. The current case for industrial policy Paul R. Krugman; 9. The case for bilateralism Rudiger W. Dornbusch; Part III. Exchange Rates alc(