We reconsider the economics of protection with an industry subject to increasing returns. Under strong comparative disadvantage in one country, any tariff-distorted equilibrium in which both countries produce the commodity must be unstable.In general, under strong comparative disadvantage, the...

This paper offers a selective, interpretative survey of the literature on the political-support component of the political economy of international trade policy. Much of the literature is characterized either by a discrepancy between what policymakers say they are doing and how the theory models...

A deranged publisher decided to produce a volume of some of my papers and asked me to write some comments. Since these amount to a summary of my views about international trade theory over the latest forty years or so, I’m giving the comments a separate alternative existence as a discussion paper.

The dominant academic literature about trade agreements maintains that they are only about national terms-of-trade manipulation and not at all about purely political concerns. Non-academic economists, commentators, and diplomats by contrast think that trade agreements are all about political...

This paper offers a selective, interpretative survey of the literature on the political economy of international trade policy. Unilateral trade policy and multilateral trade agreements are covered, but preferential trading arrangements are not. Much of the literature is characterized either by a...

This paper makes several basic points relating to the economics of Intellectual Property Rights, the TRIPS Agreement, and the World Trade Organization dispute settlement process.

During the past half century, multilateral trade liberalization has reduced tariffs to historically low levels. The Received Theory of multilateral trade agreements, based solely on terms-of-trade externalities between national governments, offers an explanation that has become the conventional...

During the past half century, multilateral trade liberalization has reduced tariffs to historically low levels. The Received Theory of multilateral trade agreements, based solely on terms-of-trade externalities between national governments, offers an explanation that has become the conventional...

The Received Theory of trade policy, based solely on terms-of-trade externalities between national governments, has become the conventional wisdom among international trade theorists. But it displays two puzzles that render that theory inconsistent with reality. Significant empirical work,...

During the past half century, multilateral trade liberalization has reduced tariffs to historically low levels. The Received Theory of multilateral trade agreements, based solely on terms-of-trade externalities between national governments, offers an explanation that has become the conventional...