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

AcknowledgementsPreface by Gene GrossmanForeword by George A. FinchIntroduction by Paul OslingtonI. IntroductionII. The Compatibility of Customs Union with the Most-Favored-Nation Principle1. The Criteria of a "Customs Union"2. Diplomatic Controversies Arising out of Most-Favored-Nation obligations of Members of Customs Unions3. The Most-Favored-Nation Principle Not a Serious Barrier to Customs UnionsIII. Exemption from Most-Favored-Nation Obligations of Preferential Arrangements other than Customs Union1. Imperial Preference2. Regional Agreements3. Plurilateral AgreementsIV. The Economics of Customs Unions1. Customs Union as an Approach to Free Trade2. Customs Union and the "Terms of Trade"3. Administrative Economies of Customs Union4. Revenue Duties5. The "Level" of the Customs Union Tariff6. Increased Tariff Protection as the Major Economic Objective of Customs Unions7. Cartels in Relation to Customs Unions8. The Allocation of Customs RevenuesV. Political Aspects of Customs Unions1. The Location of Administrative Authority in Customs Unions2. Customs Union and Neutrality Obligations3. Customs Union and Political Unification4. The Austro-German Treaty of 1918VI. The Havana Charter and Customs Union1. The Most-Favored-Nation Principle2. Exemptions from Most-Favored-Nation Obligations of Customs Unions, Free-Trade Areas, and Interim Agreements3. Exemptions from Most-Favored-Nation Obligations of Agreements in the Interest of Economic Development, Including Regional Agreements4. Relations with Non-Members5. Significance of the Havana Charter for the Customs Union QuestionVII. Prospects for Customs Unions1. Customs Unions Now in Operation or in Active Process of Negotiation2. Customs Union in Western Europe3. Obstacles to the Formation of Customs UnionsBibliographyIndex