{"title":"Ohlin Lectures","description":"\u003cp\u003eDelve into the Ohlin Lectures, a series that showcases groundbreaking insights from leading economists. Explore diverse perspectives on global economic challenges and opportunities, perfect for inquisitive minds.\u003c\/p\u003e","products":[{"product_id":"trade-policy-disaster-book-douglas-a-irwin-9780262016711","title":"Trade Policy Disaster","description":"\u003cp\u003e\u003cb\u003eThe extreme protectionism that contributed to a collapse of world trade in the 1930s is examined in light of the recent economic crisis.\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003eThe recent economic crisis--with the plunge in the stock market, numerous bank failures and widespread financial distress, declining output and rising unemployment--has been reminiscent of the Great Depression. The Depression of the 1930s was marked by the spread of protectionist trade policies, which contributed to a collapse in world trade. Although policymakers today claim that they will resist the protectionist temptation, recessions are breeding grounds for economic nationalism, and countries may yet consider imposing higher trade barriers. In Trade Policy Disaster, Douglas Irwin examines what we know about trade policy during the traumatic decade of the 1930s and considers what we can learn from the policy missteps of the time.\u003c\/p\u003e\u003cp\u003eIrwin argues that the extreme protectionism of the 1930s emerged as a consequence of policymakers' reluctance to abandon the gold standard and allow their currencies to depreciate. By ruling out exchange rate changes as an adjustment mechanism, policymakers turned instead to higher tariffs and other means of restricting imports. He offers a clear and concise exposition of such topics as the effect of higher trade barriers on the implosion of world trade; the impact of the Smoot-Hawley tariff of 1930; the reasons some countries adopted draconian trade restrictions (including exchange controls and import quotas) but others did not; the effect of preferential trade arrangements and bilateral clearing agreements on the multilateral system of world trade; and lessons for avoiding future trade wars.\u003c\/p\u003e","brand":"WoB","offers":[{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":49595805794577,"sku":"GOR011168659","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0262016710.jpg?v=1751037659"},{"product_id":"protectionism-book-jagdish-n-bhagwati-9780262521505","title":"Protectionism","description":"\u003cp\u003eA leading international economist looks at many of the key issues of trade policy now confronting the United States and the world in this timely book. Clear, informative, and witty, Jagdish Bhagwati provides the best available analysis of the protection debate and offers a prescription for reform in this turbulent area of trade policy. Bhagwati identifies new and powerful interests and ideologies that are likely to dominate the outcome of the debate. He argues that opposing tendencies can be identified in trade-related ideologies and in the national and sectional interests that lobby on trade policy in pluralistic societies. He offers the prognosis that the forces favoring freer trade are more robust and more fundamental than the forces of protectionism, and that pro trade forces are likely to triumph in the end but only if we adapt appropriately the institutions within which these ideologies and interests must function. Through an appealing combination of text, quotations, cartoons, tables, charts, and graphs, Bhagwati provides a masterly and entertaining look at the forces for and against protection.\u003c\/p\u003e\u003cp\u003eProtectionism is based on the inaugural series of Ohlin Lectures, which he delivered at the Stockholm School of Economics in October of 1987.\u003c\/p\u003e","brand":"WoB","offers":[{"title":"GB \/ WELL_READ \/ INTERNAL","offer_id":49637527126289,"sku":"GOR012548028","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":50618323501329,"sku":"GOR002221104","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ GOOD \/ SBYB","offer_id":51904755106065,"sku":"CIN0262521504G","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ VERY_GOOD \/ SBYB","offer_id":53340888236305,"sku":"CIN0262521504VG","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0262521504.jpg?v=1751195447"},{"product_id":"development-geography-and-economic-theory-book-paul-krugman-9780262611350","title":"Development, Geography, and Economic Theory","description":"\u003cp\u003eWhy do certain ideas gain currency in economics while others fall by the wayside? Paul Krugman argues that the unwillingness of mainstream economists to think about what they could not formalize led them to ignore ideas that turn out, in retrospect, to have been very good ones. Krugman examines the course of economic geograph and development theory to shed light on the nature of economic inquiry. He traces how development theory lost its huge initial influence and virtually disappeared from economic discourse after it became clear that many of the theory's main insights could not be clearly modeled. Economic geography seems to have fared even worse, as economists shied away from grappling with questions about space--such as the size, location, or even existence of cities--because the terrain was seen as unsuitable for the tools at hand. Krugman's book, however, is not a call to abandon economic modeling. He concludes with a reminder of why insisting on the use of models may be right, even when these sometimes lead economists to overlook good ideas. 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The basic Heckscher-Ohlin proposition, according to which a country exports factors in abundant supply and imports factors in scarce supply, is a key component of modern trade theory. In this book, Robert Baldwin traces the development of the HO model, describing the historical twists and turns that have led to the basic modern theoretical model in use today. Baldwin not only presents a clear and cohesive view of the model's evolution but also reviews the results of empirical tests its various versions. Baldwin, who published his first theoretical article on the HO model in 1948, first surveys the development of the HO model and then assesses empirical tests of its predictions. Most discussions of empirical work on HO models confine themselves to the basic theorem, but Baldwin devotes a chapter to empirical tests of three related propositions: the Stolper-Samuelson theorem; the Rybczynski theorem; and the factor price equalization theorem. 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