A Foreign Affairs Best Book of the Year: “Tells the history of American trade policy . . . [A] grand narrative [that] also debunks trade-policy myths.” —Economist Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in the Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin’s Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation—first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. “Combines scholarly analysis with a historian’s eye for trends and colorful details . . . readable and illuminating, for the trade expert and for all Americans wanting a deeper understanding of America’s evolving role in the global economy.” —National Review “Magisterial.” —Foreign Affairs

Combining the intellectual history of the Enlightenment, Atlantic history, and the history of the French Revolution, Paul Cheney explores the political economy of globalization in eighteenth-century France. The discovery of the New World and the rise of Europe's Atlantic economy brought unprecedented wealth. It also reordered the political balance among European states and threatened age-old social hierarchies within them. In this charged context, the French developed a "science of commerce" that aimed to benefit from this new wealth while containing its revolutionary effects. Montesquieu became a towering authority among reformist economic and political thinkers by developing a politics of fusion intended to reconcile France's aristocratic society and monarchical state with the needs and risks of international commerce. The Seven Years' War proved the weakness of this model, and after this watershed reforms that could guarantee shared prosperity at home and in the colonies remained elusive. Once the Revolution broke out in 1789, the contradictions that attended the growth of France's Atlantic economy helped to bring down the constitutional monarchy. Drawing upon the writings of philosophes, diplomats, consuls of commerce, and merchants, Cheney rewrites the history of political economy in the Enlightenment era and provides a new interpretation of the relationship between capitalism and the French Revolution.