Based on a comparative study of eight leading industrial powers this book argues that `new protectionism' is economically inefficient and countries should try to develop the policies which are least harmful to their trading partners.

Faced with increased levels of international competition and mounting budget deficits some developed, Western economies have responded by introducing trade restrictions. This book uses a comparative analysis of eight leading industrial nations (including Japan, the United States, West Germany and Britain) to demonstrate that such policies are mistaken. Alternatives to trade restrictions, including subsidies for industries and labour-market policy instruments are also shown to have their drawbacks, and the book emphasises the need for countries to find and exploit policies which fulfil their own political and social needs but which are least injurious to their trading partners.

`The study has many positive features: it is written with great clarity; it is devoid of mathematical symbols, providing excellent `descriptive analysis'; and the information it provides is useful and skilfully handled in the policy evaluation. This is a book well worthy of a place on an undergraduate reading list.' - Economic Journal