The Customs Union Issue

This text was originally published in 1950 by the Carnegie Endowment for International Peace. It sets the framework for the contemporary debate over the benefits or otherwise of preferential trading agreements such as the European Union, NAFTA, and APEC. The book developed the concepts of trade creation and diversion in this work as the author pioneered the analysis of the global politics of trade agreements. This revival of this classic work includes an introduction that places this book in the context of the author's intellectual development and the economic and political situation of the post-WWII world. The introduction also traces the reception of the work and discusses its continuing relevance for international economists, political scientists, and historians.