Reciprocity, A National Policy For Foreign Trade, 1937
In 1937, Culbertson published a book supporting the Hull reciprocal trade policy. According to a review by George H. E. Smith, Culbertson's thesis is that " become a world state... Our overseas expansion will go on whether we like it or not... Our production, our finance, and our trade then must operate on a world stage. If they are confined within our political frontiers by a narrow nationalism, no amount of governmental regulation and of governmental generosity will bring about real prosperity... I have become convinced that we cannot possibly pay out nationally except through a tremendous revival in foreign trade, both imports and exports, which in turn will stimulate and enlarge domestic trade and enterprise." The book continues by discussing the evolution of tariffs and the mechanisms through which they are made, and concludes with suggestions for a permanent foreign trade policy.
Read more about this topic: William Smith Culbertson
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