Western Technological Industrialism & Socialism's Ideological Protest

Moving away from a robust policy of isolationist protectionist dutys, FDR quietly "widened the Executive's authority o'er international economic policy and gradually accumulated essential power to parcel out economic rewards and punishments" to trading partners approximately the world. The mechanism was to exploit executive powers delegated to the president or build "new tools of economic diplomacy" (Rosenberg 242). Thus the Trade Agreements fiddle of 1934 set up international reciprocity: The U.S. would not tariff imports from countries that reciprocated with its exports. The Export-Import Bank, after a false start, helped rationalize international government-backed lending, again

under executive leadership. The Gold go for exercise did the same thing for international monetary policy. The Banking Act of 1933 gave the executive power to regulate foreign exchange. Importantly, these acts positioned the executive outset as the chief U.S. trade negotiator.

The effect was government commandment of international markets and avoidance of the chaos of commercial-market failure.

Eisenstadt, S.N. "European Expansion and the acculturation of Modernity." improver to The Age of Encounters to the American Century. 2nd ed. Ed. Diane O'Brien and Thomas O'Brien. capital of Massachusetts: Pearson Custom Publishing, 2002. 209-226.

Prados, John. "The Cold War Crucible." Supplement to The Age of Encounters to the American Century. 2nd ed. Ed. Diane O'Brien and Thomas O'Brien. Boston: Pearson Custom Publishing, 2002. 249-262.

Rosenberg, Emily S. "Depression and War, 1932-1945." Supplement to The Age of Encounters to the American Ce
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