A second edition being called for at a time when I have little right to be thinking of anything but my work as one of the Royal Commissioners on the Poor Laws, I have contented myself with adding a few notes, for the most part bringing the more important statistics up to date. I have not made any material alteration on the former edition.
Nor do I think it necessary. The case for Free Trade has only been strengthened by the events of the past two years, and, although I might change the form, I do not think I should make any change in the substance.
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I purchased this book during a clearance sale being offered by the Mises Institute. It is essentially just a reprinting of the original (1904?) Glasgow University Press edition. Although the author's preface refers briefly to the specific historical situation which gave rise to the work (it's based on a series of university lectures), I think it would have been beneficial to include a more in-depth introduction for modern readers, most of whom are unlikely to be very familiar with the political controversies of early 20th century Great Britain.
As far as the book itself goes, however, I found the author's main arguments well-stated, easy to understand, and logically compelling. Again, given that the work is an attempt to deal with a specific political controversy, there are significant references to specific figures (shipping statistics, import/export totals, etc.) that can be safely bypassed, and which make the read drag a bit in places. But as far as the main arguments in favor of free trade and the objections and potential issues with protectionism, retaliatory and preferential tariffs, and the like, the author does an excellent job. Given, furthermore, the current global political and economic climate, and the likelihood that it will see renewed calls for protectionism and destructive anti-free trade measures, this book can be helpful in rebutting the arguments for them (It also shows, by the way, just how little those arguments have changed in substance since the first few years of the 20th century.)