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

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Each chapter in Free Trade in the Twenty-First Century has an eminent expert in the field addressing a specific aspect of modern trade.
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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.

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Table of Contents

Adam Smith’s Moral Sentiments, Society, and Free Trade 3
Vernon L. Smith

Reflections from the Inside Out: What Libertopia Tells Us About the Nature of Markets in Trade 13
Tim Evans

The Foundations of Free Trade 31
Patrick Barron

The Psychology of Protectionism 43
Eamonn Butler

Free Trade for Peace, Prosperity, and Progress 65
Thorsten Polleit

The Cultural Politics of Free Trade in Britain 77
Stephen Davies

Free Trade and Austro-libertarianism 95
Walter E. Block

Ludwig von Mises on Trade, Human Development, and Human Progress 117
Mark Thornton

The Viewpoints of Senior Policy-Makers

The International Trading System: A Practitioner’s Perspective 135
Tim Groser

Why Free Trade Is Difficult to Achieve in Practice 159
Syed Kamall

Free Trade: A Ministerial Perspective 187
Lord Peter Lilley

My Experiences of Global Trade Negotiations 201
Liz Truss

Revising Globalising 215
Tony Abbott

Free Trade Under Siege: Analyzing Contemporary Trade Policies 225
Barbara Kolm and Miguel Del Valle

Mrs. Thatcher’s Prescient Bruges Speech 257
Daniele Capezzone

The Case for Free Trade—Why We Need to Keep Making It 275
Douglas Carswell

Let Free Trade Work Its Magic in the UK: Lord Moynihan of Chelsea, OBE 287
Jon Moynihan

Monetary Economics and Global Trade The Monetary System of Free Trade 321
Keith Weiner

Twin Deficits—How Are They Related? 351
Alasdair MacLeod

Big Players and the Volatility of Exchange Rates 365
Roger Koppl and Marta Podemska-Mikluch

Fix Money Fix the World 379
Dominic Frisby

Economic Policy and Trade: The Good, The Bad and The Ugly

Free Trade in the Nordic Countries 405
Hannes H. Gissurarson

Old Lessons for the New Protectionists 429
Phillip W. Magness

Free Trade Is Not Free: Why Deglobalization Is (Unfortunately) Here to Stay 445
Keith Jakee and Stephen Turner

Export Subsidies 469
Veronique de Rugy

Germany’s Costly Hidden Export Subsidies 487
Gunther Schnabl

Trading Away Freedom: How Non-trade Elements Came to Dominate Trade Agreements 505
Iain Murray

Trade Adjustment Textbook Chapter 533
Scott S. Lincicome

Challenges in Export Growth and Financial Compliance for Latin America 553
Jorge Jraissati

Free Trade and Free Markets How Free Trade Helps Businesses Thrive 567
Daniel Lacalle

Colombia’s Uber Wars: Anarchy, Legalism, and the Politics of Regulatory Capture 579
Daniel Raisbeck

Globalization, Long May It Reign 601
Deirdre Nansen McCloskey

Social Market Economy, Ordoliberalism and Neoliberalism. An Introduction 617
Annette Godart-van der Kroon

Revealing the Benefits of Trade to University Students 631
Anthony J. Evans and Wioletta Nawrot

Free Trade Myths and Realities 643
Wayne Winegarden and Rowena Itchon

Free Trade Versus Interventionism 659
Jörg Guido Hülsmann and Karl-Friedrich Israel

Globalization: Free Trade Versus Managed Trade 675
Richard M. Ebeling

Correction to: Adam Smith’s Moral Sentiments, Society, and Free Trade C1
Vernon L. Smith
ISBN 9783031676550
Publisher Springer
Publication Date 2/04/2025
Binding HB
Page Length 703
Dimensions 6x9

In Restraint of Trade
This smashing work will change the way you think of the relationship between the state and business.
Price: $20.00