Cover image for U.S. trade policy : history, theory, and the WTO
U.S. trade policy : history, theory, and the WTO
Lovett, William Anthony.
Personal Author:
Publication Information:
Armonk, N.Y. : M. E. Sharpe, [1999]

Physical Description:
xi, 228 pages ; 23 cm
Reading Level:
1450 Lexile.
Corporate Subject:

Format :


Call Number
Material Type
Home Location
Item Holds
HF1455 .L66 1999 Adult Non-Fiction Central Closed Stacks

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A critical review of recent U.S. trade policies that have failed to enforce sufficient reciprocity and overall trade balance, with suggestions for policies that foster a more balanced and realistic pattern of world trade growth.

Reviews 1

Choice Review

This updated edition (1st ed., CH, Sep'99) offers five essays that share a common view: a unilateral free trade policy harms the economic well-being of the US. The three authors, collectively with backgrounds in economics, history, and law and with academic and government affiliations, support a global economy characterized by expanding world trade, capital flows, and technology transfers but feel that protectionist measures retained by other countries have placed US industries at a competitive disadvantage, contributed to the US trade deficit, reduced economic growth, caused wage stagnation, and made the US vulnerable to international economic instabilities. The first chapter, written by Lovett, describes the issues; the second, by Eckes, covers US trade policy history from Colonial times to the present. Brinkman, in the next two chapters, reviews the shortcomings of static trade theory and advocates dynamic approaches considered as being more realistic. According to this author, Adam Smith got it right; David Ricardo's analysis is liable to mislead policy makers. The final chapter, once again by Lovett, calls for a US trade policy that requires reciprocal concessions on the part of trading partners. A useful contribution to the ongoing debate about trade policy. ^BSumming Up: Recommended. Upper-division undergraduate through professional collections. E. L. Whalen formerly, Clark College

Table of Contents

Prefacep. ix
1 William A. Lovett Introductionp. 3
Tables 1.1-1.6p. 13
2 Alfred E. Eckes Jr. U.S. Trade Historyp. 51
3 Richard L. Brinkman Freer Trade: Static Comparative Advantagep. 106
4 Richard L. Brinkman Dynamic Comparative Advantagep. 121
5 William A. Lovett Rebalancing U.S. Tradep. 136
Notes and Referencesp. 183
Indexp. 219
About the Authorsp. 227