Intro
The author
Introduction
1 The nature of trade
Trade is (and was) everywhere
Specialisation and efficiency
Concerns over winners and losers
Protectionism
Efforts to reduce trade barriers
Transnational corporations
Trade as a moral good
The future of trade
PART ONE
THE RISE OF TRADE
2 The origins of trade
Stone Age trade
Records and recriminations
Gift exchange and the money revolution
Medieval trading routes
New ideas and new worlds
3 The rise of international trade
The mercantilist era
Faltering moves towards free trade
Farewell to the Corn Laws
An era of more open trade
The decline of free trade policies
PART TWO
THE PRINCIPLES OF TRADE
4 The theory of trade
Exchange and value
Specialisation
Comparative advantage
Unequal advantages and trade
Who trades with whom?
Defying gravity?
5 The benefits of trade
Static gains from trade
Dynamic gains from trade
Non-material benefits
PART THREE
DOUBTS ABOUT TRADE
6 Winners and losers in trade
Economic change creates winners and losers
Dislocation in richer countries
Labour productivity
Change and globalisation
Exposure to competition
7 Concerns about globalisation
Coercion of poorer countries
Perpetual lag?
Import substitution
The fair trade movement
Exploitation of poor workers
Environmental concerns
Cultural imperialism
PART FOUR
PROTECTIONISM
8 Protectionism: politics, tools, problems
The politics of protectionism
The tools of protectionism
Which firms to protect?
Unintended consequences
The cost of protectionism
9 Arguments for protectionism
The infant industries argument
Anti-dumping argument
Labour standards
Product standards and biosecurity
Security concerns
Sanctions.

10 Balance of payments deficits
The balance of payments
Deficits are not always a problem
Country-to-country deficits
Exchange rates
Government intervention
PART FIVE
TRADE TODAY
11 Free trade redux
Post-war commitment to trade
Broadening horizons
Different approaches
Examples of regional trade agreements
12 Transnational corporations
Managing global value chains
The origins of TNCs
Uncertain boundaries
How powerful are TNCs?
13 Trade and morality
Two views of trade
Trade and liberal values
Trade and equality
The moral value of trade
PART SIX
THE FUTURE OF TRADE
14 Trends and lessons
The benefits of international trade
Trends and challenges
Political challenges to free trade policies
The pressure for protection
The need for adaptability
References
Further reading
About the IEA
Blank Page.