Free Trade in the Twenty-First Century: Economic Theory and Political Reality

by Max Rangeley (Editor), Daniel Hannan (Editor)

Overview

This book offers an assessment of the benefits and contemporary relevance of free trade. With contributions from senior policy-makers—ranging from former prime ministers of Australia and the United Kingdom to ambassadors and political figures who have worked on trade negotiations—as well as some of the most prestigious academics in the field of trade, from a Nobel Prize winner to esteemed economic historians, it teaches how important free trade is to prosperity in this day and age. This book brings together the key approaches to free trade in the modern world, including the practical realities of negotiating trade agreements, how we can move towards a system of genuine free trade and the moral case for free trade.

Each chapter in Free Trade in the Twenty-First Century has an eminent expert in the field addressing a specific aspect of modern trade. With a single book, one can gain an understanding of the most important themes, from the impact monetary economics has on trade to the intricacies of free trade agreements. By having chapters written by political figures, trade negotiators and think tank analysts, this book takes trade beyond abstruse economic theory and brings it into political reality so that the reader can understand how we can use trade to create global peace and prosperity.

Product Details

ISBN-13:	9783031676550
Publisher:	Springer Nature Switzerland
Publication date:	02/04/2025
Edition description:	2024
Pages:	691
Product dimensions:	6.10(w) x 9.25(h) x (d)

About the Author

Max Rangeley runs an economics think tank founded by a member of Parliament and has served on the boards of other think tanks in London and Brussels. He has given many speeches in the European Parliament and in central banks among other institutions, including moderating the Future of Artificial Intelligence roundtable discussions in the European Parliament and organizing the Blockchain Summit in the European Parliament.

Lord Daniel Hannan was a member of the European Parliament for more than twenty years, then joined the House of Lords. He founded the think tank the Institute for Free Trade and has served on the boards of other think tanks. He has written fourteen books and is regularly featured on news and discussion programs on television in the UK.

Table of Contents

Part I. The Philosophy, Politics and Ethics of Free Trade.- Chapter 1. Adam Smith’s Moral Sentiments, Society, and Free Trade (Vernon Smith ).- Chapter 2. Reflections from the Inside Out: What Libertopia tell us about the Nature of Markets in Trade (Tim Evans).- Chapter 3. The Foundations of Free Trade (Patrick Barron).- Chapter 4. The psychology of protectionism (Eamonn Butler).- Chapter 5. Free Trade For Peace, Prosperity and Progress (Thorsten Polleit).- Chapter 6. The Cultural Politics of Free Trade in Britain (Stephen Davies).- Chapter 7. Free Trade and Austro-libertarianism (Walter E. Block).- Chapter 8. Ludwig von Mises on Trade, Human Development, and Human Progress (Mark Thornton).- Part II. The Viewpoints of Senior Policy-Makers.- Chapter 9. The International Trading System: A Practitioner’s Perspective (Tim Groser).- Chapter 10. Why Free Trade Is Difficult To Achieve In Practice (Lord Syed Kamall).- Chapter 11. 24 Free Trade: A Ministerial Perspective (Lord Peter Lilley).- Chapter 12. (Liz Truss).- Chapter 13. Revising Globalising (Tony Abbott).- Chapter 14. Free Trade in the 21st Century (Barbara Kolm).- Chapter 15. Mrs. Thatcher’s prescient Bruges Speech (Daniele Cappezonne).- Chapter 16. The case for free trade – why we need to keep making it (Douglas Carswell).- Chapter 17. (Lord Jon Moynihan).- Chapter 18. The case for free trade – why we need to keep making it (Lord Jon Moynihan).- Part III. Monetary Economics and Global Trade.- Chapter 19. The Monetary System of Free Trade (Keith Weiner).- Chapter 20. Twin deficits — How are they related? (Alasdair MacLeod).- Chapter 21. Big Players and the Volatility of Exchange Rates (Roger Koppl).- Chapter 22. Fix Money Fix the World (Dominic Frisby).- Part IV. Economic Policy and Trade: The Good, The Bad and the Ugly.- Chapter 23. Free Trade in the Nordic Countries (Hannes H. Gissurarson).- Chapter 24. Old Lessons for the New Protectionists (Phil Magness).- Chapter 25. Free Trade is Not Free: Why Deglobalization is (Unfortunately) Here to Stay (Keith Jakee).- Chapter 26. Export Subsidies (Veronique de Rugy).- Chapter 27. Germany’s Costly Hidden Export Subsidies (Gunther Schnabl).- Chapter 28. Trading Away Freedom: How Non-Trade Elements Came to Dominate Trade Agreements (Iain Murray).- Chapter 29. Trade Adjustment Textbook Chapter (Scott Lincicome).- Chapter 30. Challenges in Export Growth and Financial Compliance for Latin America (Jorge Jraissati).- Part V. Free Trade and Free Markets.- Chapter 31. How Free Trade Helps Businesses Thrive (Daniel Lacalle).- Chapter 32. Colombia’s Uber Wars: Anarchy, Legalism & the Microeconomics of Trade Restrictions (Daniel Raisbeck).- Chapter 33. Globalization, Long May It Reign (Deirdre Nansen McCloskey).- Chapter 34. Social market economy, Ordo Liberalism and Neoliberalism. An introduction (Annette Godart-van der Kroon).- Chapter 35. Revealing the benefits of trade to university students (Anthony J. Evans).- Chapter 36. Free Trade Myths and Realities (Wayne Winegarden).- Chapter 37. Free Trade versus Interventionism (Jörg Guido Hülsmann).- Chapter 38. Globalization: Free Trade versus Managed Trade (Richard M. Ebeling).