America's Protectionist Takeoff 1815-1914 should be mandatory reading for all students of economics, finance, business, and history. The notion that free trade is the only viable economic perspective, often assumed to be the case in universities these days, is to be ignorant of so much, including the most fundamental debate in nineteenth century American politics - both before the Civil War and after. Furthermore, reading Michael Hudson's account of the development of The American School of Political Economy gives one fine examples by which to understand that economic philosophy does not develop in a vacuum. Every perspective comes with its biases - more strongly in economics than elsewhere due to financial incentive lurking behind the various viewpoints.
That there is an argument for tariffs, even an argument for isolationism, many would deny. But the fact is every industrial nation got its economic feet on the ground by exercising its sovereign right to impose import restrictions, generally against the free trade arguments and the urgings of the British. And the ideas put forth by the American School were highly influential in this regard. I strongly urge you to get this book and read all about it.
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