NDLI: The Constitutional and Political Economy of Trade Protection

Content Provider	Springer Nature Link
Author	Parisi, Francesco
Copyright Year	1998
Abstract	This essay reviews Trade Protection in the United States (Aldershot, UK: Edward Elgar Publishing Ltd., 1995) by Charles K. Rowley, Willem Thorbecke and Richard E. Wagner. The book stimulates a radical rethinking of trade policy, with results that are applicable well beyond the political framework of the United States. The authors—all advocates of the Virginia public choice school of thought—provide a lucid explanation of the formation of trade policy and systematically explain the many paradoxes of endogenous policymaking. They assess the main players in the process of trade policy formation and rigorously explain the dynamic interaction of the various political organs involved. The authors conclude that unilateral free trade cannot be achieved through the ordinary legislative process, and make a compelling case for Constitutional reform. Given the fragility of free trade equilibria and the inadequacy of bilateral and multilateral trade treaties for a stable free trade environment, the right to trade should be constitutionally guaranteed as an individual right. Considering the relevance of the authors' conclusions in this phase of consolidation of European trade policymaking, this essay examines the proposed unilateral free trade amendment, addresses the game theoretic implications, in light of viable alternatives.
Starting Page	67
Ending Page	79
Page Count	13
File Format	PDF
ISSN	09291261
Journal	European Journal of Law and Economics
Volume Number	5
Issue Number	1
e-ISSN	15729990
Language	English
Publisher	Kluwer Academic Publishers
Publisher Date	1998-01-01
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Commercial Law Public Finance & Economics Political Science
Content Type	Text
Resource Type	Article
Subject	Business and International Management Law Economics and Econometrics

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
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