An introduction to trade and globalisation / Eamonn Butler.

Format:

Book

Author/Creator:

Butler, Eamonn, author.

Language:

English

Subjects (All):

International trade.

Physical Description:

1 online resource (157 pages)

Edition:

1st ed.

Place of Publication:

London : The Institute of Economic Affairs, [2021]

Summary:

International trade has created a highly interdependent world. Everyday products - such as phones, trainers or cars - are designed, manufactured and assembled across several different countries, by countless different companies, both large and small, involving millions of people of all nationalities, creeds and cultures. We take much of this creativity and competition for granted. But it wouldn't be possible without the peaceful collaboration of millions of people around the planet - a much-overlooked aspect of globalisation. Yet some politicians - perhaps bound by electoral concerns - often take a narrower view, claiming globalisation leads to job losses, lower standards and threats to security. An introduction to Trade & Globalisation examines the tensions that inevitably arise alongside the many benefits of trade. Author Eamonn Butler looks at the rapid growth of international trade over the past 50 years, and how commerce and international politics have become increasingly entwined. He describes the fundamental and growing importance of trade and globalisation in modern life - whilst also seeking to understand the opposition to it. And, at the same time, he skilfully provides a straightforward, insightful and essential introduction to the principles, economics, and politics of international trade - one of the key developments of the modern era.

Contents:

Intro

The author

Introduction

1 The nature of trade

Trade is (and was) everywhere

Specialisation and efficiency

Concerns over winners and losers

Protectionism

Efforts to reduce trade barriers

Transnational corporations

Trade as a moral good

The future of trade

PART ONE

THE RISE OF TRADE

2 The origins of trade

Stone Age trade

Records and recriminations

Gift exchange and the money revolution

Medieval trading routes

New ideas and new worlds

3 The rise of international trade

The mercantilist era

Faltering moves towards free trade

Farewell to the Corn Laws

An era of more open trade

The decline of free trade policies

PART TWO

THE PRINCIPLES OF TRADE

4 The theory of trade

Exchange and value

Specialisation

Comparative advantage

Unequal advantages and trade

Who trades with whom?

Defying gravity?

5 The benefits of trade

Static gains from trade

Dynamic gains from trade

Non-material benefits

PART THREE

DOUBTS ABOUT TRADE

6 Winners and losers in trade

Economic change creates winners and losers

Dislocation in richer countries

Labour productivity

Change and globalisation

Exposure to competition

7 Concerns about globalisation

Coercion of poorer countries

Perpetual lag?

Import substitution

The fair trade movement

Exploitation of poor workers

Environmental concerns

Cultural imperialism

PART FOUR

PROTECTIONISM

8 Protectionism: politics, tools, problems

The politics of protectionism

The tools of protectionism

Which firms to protect?

Unintended consequences

The cost of protectionism

9 Arguments for protectionism

The infant industries argument

Anti-dumping argument

Labour standards

Product standards and biosecurity

Security concerns

Sanctions.

10 Balance of payments deficits

The balance of payments

Deficits are not always a problem

Country-to-country deficits

Exchange rates

Government intervention

PART FIVE

TRADE TODAY

11 Free trade redux

Post-war commitment to trade

Broadening horizons

Different approaches

Examples of regional trade agreements

12 Transnational corporations

Managing global value chains

The origins of TNCs

Uncertain boundaries

How powerful are TNCs?

13 Trade and morality

Two views of trade

Trade and liberal values

Trade and equality

The moral value of trade

PART SIX

THE FUTURE OF TRADE

14 Trends and lessons

The benefits of international trade

Trends and challenges

Political challenges to free trade policies

The pressure for protection

The need for adaptability

References

Further reading

About the IEA

Blank Page.

Notes:

Description based on print version record.

ISBN:

9780255368056

0255368054

9780255368049

0255368046

OCLC:

1273980186