By Paddy Quick, It is important to distinguish between “trade” policy, i.e. policy that focuses on imports and exports (e.g. through tariffs and quotas) and the so-called “trade pacts” such as the WTO, NAFTA, and the (now-rejected) Trans-Pacific Partnership (TPP). The latter are in fact mainly designed to “open” countries to the capital of multinational … More Trump’s Trade Policy & How to Respond to It
In a world composed of global value chains, headline global trade data can mask the truth about how much exports are actually benefiting a country, according to professor Xiao Jiang from Denison University. Here’s why: If a country’s imports of semi-finished goods contain significant high-skill labor content, that country will lose will lose domestic share … More Xiao Jiang on Why Exports Alone Can’t Make Poor Countries Rich
By Erik Reinert, Jayati Ghosh and Rainer Kattel, We have recently co-edited a book, The Handbook of Alternative Theories of Economic Development, which that seeks to bring back the richness of development economics through many different theories that have contributed over the ages to an understanding of material progress. The underlying approach is based on … More Understanding Economic Development and Demolishing Neoliberal Myths
From Routledge: The doctrine of “free trade” is second only to that of “free markets” in undergirding ideological support for our current global economic structures and rules. From David Ricardo’s “comparative advantage principle” to James Meade’s Neoclassical or mainstream economics proof of self-adjusting free trade equilibrium, the free trade doctrine has had a lasting and … More New Book by Ron Baiman: The Global Free Trade Error – The Infeasibility of Ricardo’s Comparative Advantage Theory
By J.W Mason, One of the many ways conventional economic theory hinders our discussions of trade is it gets us thinking about goods “produced” in one country and “consumed” in another. Mexicans grow tomatoes, drill oil, sew shirts, and assemble folk-religious tchotchkes; Americans eat, burn, wear and pray them. Most trade in the real world does … More What Exactly Does Mexico Export to the US?
From Routledge: Rapid and sustained growth in the 21st century global economy of large developing economies including Brazil, Russia, India, China, and South Africa, has captivated policy-makers and popular business press pundits alike. The coining of the new acronym BRICS and widespread adoption in international economics discourse of the designation “emerging markets” is symptomatic of … More New Book: The Political Economy of Emerging Markets – Varieties of BRICS in Age of Global Crises & Austerity
From Anthem Press: This book is a contribution to the international trade and economic development literature and is based on a decade of joint research and collaboration on South–South economic relations. Given the increasing focus on the economic power of some developing countries, for example the 2013 Human Development Report’s “Rise of the South”, it … More New Book by Omar Dahi & Firat Demir: South–South Trade and Finance in the Twenty-First Century