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The Wealth of a Nation: A History of Trade Politics in America
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Review
"Johnson, who worked as a trade official in president Bill Clinton's administration and then as a lawyer, set out to chronicle the central role trade politics have always played in the United States. He largely succeeds...with the Trump administration starting trade wars and bringing protectionism back, the book couldn't be timelier."--Foreign Policy"Densely detailed study of trade agreements across the span of American history, written by a former U.S. trade representative...[F]or students of international trade, macroeconomics, and governance-another theme is the struggle among various branches of government to regulates foreign trade-this will be a useful reference....Timely..."--Kirkus"Johnson provides reassuring evidence that the country's current politico-economic climate is not unique, or even new, reminding readers that trade debates date to the founding fathers, as do protectionist movements....This thoughtful, eloquent history also doubles as a plea for improved public understanding of a vital issue."--Publishers Weekly"Don Johnson has used his talents and vast experiences representing our nation to achieve an important historical study of trade policy. There are many perspectives on the lessons to be learned from that history, and it is vital that we debate those differences as we confront the challenges of globalization."--Sander Levin, U.S. Congressman of Michigan and former Chairman of the House Ways and Means Committee"This splendid book covers the politics of American trade policy from the country's beginnings through Trump. Johnson provides a great overview of a fascinating subject."--Douglas Irwin, John French Professor of Economics, Dartmouth College, and author of Clashing over Commerce: A History of US Trade Policy"Johnson offers numerous biographical sketches and a readable historical narrative with an increasing focus on movements, legal battles, and political pressure groups as he moves toward the present. Readers looking for current topics will take interest in his detailed discussion of labor issues as a central concern of trade politics in the late 20th and early 21st centuries and the attempts by pro-trade politicians to satisfy the interests of an anti-trade labor movement."--J. Gerber, emeritus, San Diego State University, CHOICE"An unabashed believer in economic liberalism, C. Don Johnson warns us of the dangers of Donald Trump's protectionist policies. By exploring the history of protectionism since the nation's founding, the rise of the modern-day liberal order, and its potential demise under Trump, this former congressman, trade negotiator, and lawyer lays out a story designed to reach a wide audience."--Thomas Zeiler, The Historian
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About the Author
C. Donald Johnson is Director Emeritus of the Dean Rusk International Law Center at the University of Georgia School of Law, where he was on the faculty for eleven years and taught international trade law in China and Geneva. From 1998 through 2000, as an Ambassador in the Office of United States Trade Representative, he served as the Chief Textile Negotiator during the negotiation of U.S.-China WTO Accession Agreement. From 1993 to 1995, he represented the 10th district of Georgia as a Member of Congress, where he focused on national security and international economic policy, including NAFTA and the WTO implementing legislation. Johnson also served in the Georgia State Senate from 1987 to 1992, where he was chairman of the Appropriations Committee. He served on the trade staff of the U.S. House of Representatives Ways and Means Committee during consideration of the Trade Act of 1974. He holds a Master of Laws degree from the London School of Economics.
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Product details
Hardcover: 664 pages
Publisher: Oxford University Press (May 1, 2018)
Language: English
ISBN-10: 0190865911
ISBN-13: 978-0190865917
Product Dimensions:
9.5 x 2.1 x 6.4 inches
Shipping Weight: 2.2 pounds (View shipping rates and policies)
Average Customer Review:
3.8 out of 5 stars
6 customer reviews
Amazon Best Sellers Rank:
#405,753 in Books (See Top 100 in Books)
I am an Electrical Engineer, not an Economist. My depth of knowledge ends with “ decreasing marginal utilityâ€. After finishing this book (600+ pages) I understand the Trade issues on the nightly news a little better. I never considered Trade Politics as an interesting subject but was incorrect in that assumption. The author spent a great deal of time explaining and detailing trade history basically beginning with the founding of our country. This is especially interesting if you've read the history of Washington, Jefferson, Adams, Hamilton or any of the Founding Fathers. He then takes us thru the depression with Roosevelt and up to the present with Trump. After reading this book, with the Trade perspective, I now feel like I know "The rest of the Story".
This is a must-read for anyone who wants to understand the moment of history we're living in right now. It's not just about trade and tariffs, but really all of U.S. history, in times of war and peace. It's sweeping, from Adam Smith and Alexander Hamilton through Steve Bannon and Donald Trump. Very interesting with funny anecdotes from history and from the author's own experience as a leader on these issues.
The author does a reasonably thorough job of detailing our countries history of trade. Our early leaders were divided; the south wanted little or no tariffs or duties but the north used tariffs to protect our growing industrial base. Our nation’s history has been formed by a this debate. In the author’s introduction he focuses on Adam Smith’s Wealth of Nations. Published in 1776 Smith’s work extols the virtues of free trade wherein all of society benefits when every producer is free to maximize their own individual economic freedom. The author included in his introduction the four situations Smith offers where government and industry should cooperate in the form of protection: protect an industry needed for national defense, impose a tax on a foreign import when a domestic tax is imposed upon a similar product of the home industry, impose a tariff on foreign imports in response to the competition, and finally trade restrictions should be removed gradually to allow fledgling enterprises to keep pace.What fascinates me is that all four of Adam Smith’s situations to support the public good are used today by president Trump to justify his negotiations with global trading partners for fair trade. The author dislikes Trump and makes no effort to disguise that fact. I suggest the reader reread pages 18 and 19 again before reading the conclusion. Like me, I suspect the reader will easily identify the inconsistency.
The author who is allegedly expert enough to author a book on American Trade Politics, ignores the significant improvement in the US economy since Donald Trump has been President. He is more of a left wing ideologue than an economist . He is very biased against Trump. He criticizes Trump's effort's to reduce the trade deficits the US has with other nations especially China. He also ignores the economic advantages that would accrue to the US if there was control of our southern border. No one criticizes Mexico or any other country which controls who enters their country. But the author who clearly lets his hostility to Trump interfere with economic logic is against adequate border control. He criticizes any effort by Trump to reduce trade deficits with Mexico or other countries which have surpluses in trade with US. Don't waste your money. He ignores the lowest unemployment rates for minorities since statistics have been compiled for these groups and the lowest overall unemployment rate in 40 years. You can hear similar nonsense for free on MSNBC and CNN.
This book reads like a novel but is a well documented history of our nation’s trade policies. Mr. Johnson hasn’t just put facts together he has told a fascinating story. Never dull.
Although an avid reader, this is my first review of a book. I felt compelled, however, to recommend this history of protectionism and free trade policy.It covers the United States from it’s founding to the present day. At the timing of this review, these issues have received considerable headlines. “The Wealth of a Nation†provided me with a framework for understanding the long debated issues of international trade between sovereign nations. The book is readable and my hope is that it reaches a larger audience yearning for effective government within an increasingly connected world.
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