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The Political Economy of Trade: Institutions of Protection

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  • Goldstein, Judith

Abstract

Domestic support for a liberal commercial policy in the U.S. rests on a commonly accepted set of rules and norms. These rules and norms, best characterized as a defense of free and fair trade, arise from two different traditions. The first originated as a political reaction to high trade barriers preceding the Great Depression. Central decision makers took as a lesson from the depression period that short-term political forces should not determine the level of state intervention into the market. The second, to protect against unfair trade, emanates from a long history of state support for industries that claim foreign producers are pursuing unfair predatory practices. Established in statute before the Depression, these rules did not fundamentally change in the postwar period. Together, these decision rules are used to interpret American trade protectionism.

Suggested Citation

  • Goldstein, Judith, 1986. "The Political Economy of Trade: Institutions of Protection," American Political Science Review, Cambridge University Press, vol. 80(1), pages 161-184, March.
    • Handle: RePEc:cup:apsrev:v:80:y:1986:i:01:p:161-184_18
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    Cited by:

    1. Michael P. Leidy, 1994. "Trade Policy And Indirect Rent Seeking: A Synthesis Of Recent Work†," Economics and Politics, Wiley Blackwell, vol. 6(2), pages 97-118, July.
    2. Richard T. Cupitt & Euel Elliott, 1994. "Schattschneider Revisited: Senate Voting On The Smoot‐Hawley Tariff Act Of 1930," Economics and Politics, Wiley Blackwell, vol. 6(3), pages 187-199, November.
    3. Oldřich Krpec & Vladan Hodulák, 2012. "Politická ekonomie zahraniční obchodní politiky - instituce, regulace, sociální a politický kontext [Political Economy of Trade Policy - Institutions, Regulation, Social and Political Context]," Politická ekonomie, Prague University of Economics and Business, vol. 2012(1), pages 20-39.
    4. William Kaempfer & Thomas Willett, 1989. "Combining rent-seeking and public choice theory in the analysis of tariffs versus quotas," Public Choice, Springer, vol. 63(1), pages 79-86, October.
    5. Robert E. Cumby & Theodore H. Moran, 1997. "Testing Models of the Trade Policy Process: Antidumping and the "New Issues"," NBER Chapters, in: The Effects of US Trade Protection and Promotion Policies, pages 161-190, National Bureau of Economic Research, Inc.
    6. Pierre-Olivier Peytral, 2004. "Economie politique de la politique d'ouverture commerciale mixte : interactions entre les groupes sociaux et l'Etat," Post-Print halshs-00104875, HAL.
    7. Jean-Baptiste Velut, 2023. "Trade Linkages or Disconnects? Labor Rights and Data Privacy in US Digital Trade Policy," Politics and Governance, Cogitatio Press, vol. 11(1), pages 249-260.
    8. Michael‐David Mangini, 2023. "Escape from tariffs: The political economies of protection and classification," Economics and Politics, Wiley Blackwell, vol. 35(3), pages 773-805, November.
    9. Peter A.G. van Bergeijk, 2010. "On the Brink of Deglobalization," Books, Edward Elgar Publishing, number 14122.
    10. Rabinowicz, Ewa, 1992. "Cutting the Agricultural Price Pie: Power or Justice," 1992 Occasional Paper Series No. 6 197732, International Association of Agricultural Economists.
    11. Peter A.G. van Bergeijk, 2019. "Deglobalization 2.0," Books, Edward Elgar Publishing, number 18560.

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