The National System of Political Economy (Reprints of Economic Classics)

Rating:
Summary: Friedrich List's System of Nationalism and Protectionism.
Review: In _The National System of Political Economy_, Friedrich List advocates an economic policy of nationalism based on the philosophy of protectionism. List argues that protectionism can lead to greater national economic benefit and argues against the system of laissez-faire free trade. The book is divided into four parts: The History, The Theory, The Systems, and The Politics, each focussing on a particular aspect of the theory of protectionism. List rails against the "cosmopolitical" theory of free trade economists such as Adam Smith as espoused in his _Wealth of Nations_. In particular, List contrasts the systems of protectionism in America and Germany against the system of free trade advocated by the British. He gives the history of the rise of the Hanseatic League in Germany against the British. He advocates abolishing the tariffs between the individual German states but erecting a tariff wall around the German nation, thus creating a strong federated Germany. List refers to this as the "insular supremacy of the Continental powers". Against Britain, List advocates a protectionist policy for North America as well. Of particular interest is List's discussion of the difference between agriculture and manufacturing powers. For instance, List contends that an agriculture nation without manufacturing will remain subsidiary to a nation which has manufacturing. Thus, the need for creating a nation which can sustain both manufacturing and agriculture. Rather than the individualistic standpoint of economists such as Adam Smith, List argues for political economy to be seen from the standpoint of the nation. The book contains many further insights into the value of protectionism as a trade policy to create a strong national economy. In a world being continually driven in the direction of mass globalization and technocracy, this book by List offers an alternative policy to maintain national sovereignity. While the classic works of free trade economics are highly important, especially the ideas of their originator Adam Smith, List offers cogent critique based on his nationalistic point of view. In sum, this book provides a much needed remedy to the dangers of globalization and the New World Order. Unfortunately, the advice of nationalist thinkers is not being heeded in today's political climate.

Rating:
Summary: Friedrich List's System of Nationalism and Protectionism.
Review: In _The National System of Political Economy_, Friedrich List advocates an economic policy of nationalism based on the philosophy of protectionism. List argues that protectionism can lead to greater national economic benefit and argues against the system of laissez-faire free trade. The book is divided into four parts: The History, The Theory, The Systems, and The Politics, each focussing on a particular aspect of the theory of protectionism. List rails against the "cosmopolitical" theory of free trade economists such as Adam Smith as espoused in his _Wealth of Nations_. In particular, List contrasts the systems of protectionism in America and Germany against the system of free trade advocated by the British. He gives the history of the rise of the Hanseatic League in Germany against the British. He advocates abolishing the tariffs between the individual German states but erecting a tariff wall around the German nation, thus creating a strong federated Germany. List refers to this as the "insular supremacy of the Continental powers". Against Britain, List advocates a protectionist policy for North America as well. Of particular interest is List's discussion of the difference between agriculture and manufacturing powers. For instance, List contends that an agriculture nation without manufacturing will remain subsidiary to a nation which has manufacturing. Thus, the need for creating a nation which can sustain both manufacturing and agriculture. Rather than the individualistic standpoint of economists such as Adam Smith, List argues for political economy to be seen from the standpoint of the nation. The book contains many further insights into the value of protectionism as a trade policy to create a strong national economy. In a world being continually driven in the direction of mass globalization and technocracy, this book by List offers an alternative policy to maintain national sovereignity. While the classic works of free trade economics are highly important, especially the ideas of their originator Adam Smith, List offers cogent critique based on his nationalistic point of view. In sum, this book provides a much needed remedy to the dangers of globalization and the New World Order. Unfortunately, the advice of nationalist thinkers is not being heeded in today's political climate.

Rating:
Summary: One of World's Most Important Unread Books.
Review: This book is very hard to find now. If you come by it in a large academic library you might note that it hasn't been checked out in a couple of decades or more. It is in fact the first, and probably still the most powerful, challenge to Adam Smith, David Ricardo and colleagues who developed the tenets and assumptions of the Free Trade, Laissez-Faire movement, starting in 1776 with Smith's 'The Wealth of Nations'. Published in the 1840's, it comprehensively compares national systems which promote industrial and agricultural development through tariffs and government support, notably the German and American systems, with the British colonial system of unrestricted Free Trade. It is a powerful indictment of the underlying motives and effects of the colonial system. The book has gone into extreme disfavour and total exclusion from college curriculums as these have gravitated to roles of corporate apologists or to reactions of Marxist and post structural ideology. It cogently presents, however, the argument against the world wide movement to limit economic sovereignty of nation states, and paints a grim picture of the inevitable result of unrestrained Free Markets, notably in the experience of British workers during the Industrial Revolution. The experience of the early to mid 19th Century, where these competing systems could be seen in very pure form by comparing the American and the British models, presents a compelling case for the National System List describes. Our current economic leaders do not want you to read this book, even as the leaks in Globalism start to bust down its dikes and even with a growing body of contrary modern opinion as to the benefit of Free Markets. If you read the 'Wealth of Nations' (or even better Ricardo's theories of Comparative Advantage.. free of Smith's distracting meditations on Moral Sentiments) do your self a favour and read the National System of Political Economy as well and see whose arguments, proven by human experience, win the day. It explains much of what is going on in the world today and presents alternatives to our current path at this critical point in history.