Trade Policy For Free Societies

Overview

McGee takes the position that the only proper trade policy is one of total, immediate, and unilateral free trade, since such a policy is the only one that is consistent with individual rights. He also explodes the myth that trade deficits are bad and advocates the repeal of the antidumping laws, incorporating rights theory as well as utilitarian arguments.

This book is unique in that it (1) does not limit itself to utilitarian arguments, (2) explains why trade deficits are ...

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Overview

McGee takes the position that the only proper trade policy is one of total, immediate, and unilateral free trade, since such a policy is the only one that is consistent with individual rights. He also explodes the myth that trade deficits are bad and advocates the repeal of the antidumping laws, incorporating rights theory as well as utilitarian arguments.

This book is unique in that it (1) does not limit itself to utilitarian arguments, (2) explains why trade deficits are irrelevant, and (3) calls for immediate repeal of the antidumping laws. Part I discusses the philosophy of protectionism and reviews nearly two dozen arguments that projectionists have used to restrict trade. A whole chapter is devoted to exploding the myth that trade deficits are bad. Part II elaborates on the monetary and nonmonetary costs of protectionism. Part III addresses the philosophy and practice of antidumping policy in the United States, and shows why the policy is irrational, destructive and anti-consumer, and concludes that repeal rather than reform is called for. Part IV discusses other issues, such as the policy options for Europe, the effect of competition on prices and efficiency, the stages of economic development and their connection to trade policy, and the irrationality of the United States trade policy toward Eastern Europe.

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Product Details

  • ISBN-13: 9780899308982
  • Publisher: ABC-CLIO, Incorporated
  • Publication date: 8/30/1994
  • Pages: 212
  • Product dimensions: 6.14 (w) x 9.21 (h) x 0.50 (d)

Meet the Author

ROBERT W. McGEE is a Professor in the W. Paul Stillman School of Business at Seton Hall University.

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Table of Contents

Preface
Acknowledgments
I The Philosophy of Protectionism
1 The Protectionist Mentality 3
2 The Trade Deficit Mentality 32
3 Arguments for Free Trade 47
II The Cost of Protectionism
4 Introduction to Protectionism 61
5 Monetary Costs 65
6 Nonmonetary Costs 76
III Antidumping Policy
7 Antidumping Policy in the United States: Theory and Practice 89
8 Some Examples of Dumping 118
9 Harmful Effects of Antidumping Policy 131
10 The Philosophy of Antidumping Policy 137
11 Concluding Comments: Implications for International Trade in Europe 159
Bibliography 177
Index 193
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