November 6, 2017

Macro Musings 82: Doug Irwin on the History of US Trade Policy

Hosted by David Beckworth of the Mercatus Center, Macro Musings is a new podcast which pulls back the curtain on the important macroeconomic issues of the past, present, and future.

Douglas Irwin is a professor of economics at Dartmouth College and a leading expert on trade economics. Today, he joins the show to discuss his new book, Clashing over Commerce: A History of US Trade Policy, which examines the history of American trade policy from the late 1700s to the present. Doug explains how US attitudes toward trade evolved over time and how free trade became the postwar consensus. Specifically, Doug argues that the history of US trade policy has been guided by the “three R’s: revenue, restriction, and reciprocity.” Finally, David and Doug discuss some of Doug’s work on the gold standard and the Great Depression.