International Economics
152 10 17MB
English Pages 186 [198] Year 1957
Table of contents :
CHAPTER I INTRODUCTORY
1. The Scope of this Volume
2. International Economics as a Branch of General Economics
3. Distinguishing Features of International Transactions
CHAPTER II THE GAIN FROM FOREIGN TRADE
1. Importance of this Subject
2. The International Division of Labour
3. The Law of Comparative Costs
4. Assessing the Gain from Foreign Trade
5. Gain though Difference of Cost Ratios
6. Another Example of the Importance of being Unimportant
7. The Gain from Trade, and Cost Gradients
8. The Gain from Trade, and Demand
9. Foreign Trade under Constant or Decreasing Costs
10. A Multiplicity of Commodities Introduced
11. An Alternative Approach
12. Conclusions
CHAPTER III POTENTIAL AND ACTUAL GAIN
1. Two Problems
2. Three Conditions necessary for Maximizing Gain by Trade
3. Fulfilment of Conditions Abroad not Essential
4. Failure of Conditions: (a) When Industries are Growing or Declining
5. Failure of Conditions: (b) Monopoly
6. Summary
CHAPTER IV COMPARATIVE PRICE LEVELS
1. A Classification of Goods
2. The Price Level of International Goods
3. The Price Level of Quasi-International Goods
4. The Price Levels of Domestic Goods
5. The Price Levels of Factors of Productions
6. Law of Comparative Costs and the Price Mechanism
7. Summary
CHAPTER V FOREIGN EXCHANGE
1. The Balance of Payments (introductory)
2. The Gold Standard and Gold Points
3. Bills and the Bank Rate
4. Forward Foreign Exchange
5. Foreign Exchange in the Absence of a Gold Standard
6. Exchange Equalization Funds
7. The Balance of Payments further considered
8. Negotiability of Currencies
9. Sterling
CHAPTER VI THE BALANCE OF TRADE
1. The Classical Doctrine
2. The Equilibrium in Simplified Conditions
3. The Balance of Payments on Current Account
4. Capital Movements (preliminary)
5. The Gold Flow and Capital Movements
6. The Gold Flow and the Commodity Balance
7. Volume of Exports versus Excess of Exports
8. Summary
CHAPTER VII CORRECTING AN IMBALANCE
1. Fundamental Principles
2. Reduction of Factor Rewards and Elasticity of Demand
3. Growth and Balance of Trade
4. Growth of Foreign Trade: Some General Considerations
5. Summary
CHAPTER VIII A REFORMED WORLD
1. Good Neighbourliness
2. International Monetary Fund
3. International Bank for Reconstruction and Development
4. G.A.T.T.
5. E.P.U.
6. Summary
APPENDIX
CHAPTER I INTRODUCTORY
1. The Scope of this Volume
2. International Economics as a Branch of General Economics
3. Distinguishing Features of International Transactions
CHAPTER II THE GAIN FROM FOREIGN TRADE
1. Importance of this Subject
2. The International Division of Labour
3. The Law of Comparative Costs
4. Assessing the Gain from Foreign Trade
5. Gain though Difference of Cost Ratios
6. Another Example of the Importance of being Unimportant
7. The Gain from Trade, and Cost Gradients
8. The Gain from Trade, and Demand
9. Foreign Trade under Constant or Decreasing Costs
10. A Multiplicity of Commodities Introduced
11. An Alternative Approach
12. Conclusions
CHAPTER III POTENTIAL AND ACTUAL GAIN
1. Two Problems
2. Three Conditions necessary for Maximizing Gain by Trade
3. Fulfilment of Conditions Abroad not Essential
4. Failure of Conditions: (a) When Industries are Growing or Declining
5. Failure of Conditions: (b) Monopoly
6. Summary
CHAPTER IV COMPARATIVE PRICE LEVELS
1. A Classification of Goods
2. The Price Level of International Goods
3. The Price Level of Quasi-International Goods
4. The Price Levels of Domestic Goods
5. The Price Levels of Factors of Productions
6. Law of Comparative Costs and the Price Mechanism
7. Summary
CHAPTER V FOREIGN EXCHANGE
1. The Balance of Payments (introductory)
2. The Gold Standard and Gold Points
3. Bills and the Bank Rate
4. Forward Foreign Exchange
5. Foreign Exchange in the Absence of a Gold Standard
6. Exchange Equalization Funds
7. The Balance of Payments further considered
8. Negotiability of Currencies
9. Sterling
CHAPTER VI THE BALANCE OF TRADE
1. The Classical Doctrine
2. The Equilibrium in Simplified Conditions
3. The Balance of Payments on Current Account
4. Capital Movements (preliminary)
5. The Gold Flow and Capital Movements
6. The Gold Flow and the Commodity Balance
7. Volume of Exports versus Excess of Exports
8. Summary
CHAPTER VII CORRECTING AN IMBALANCE
1. Fundamental Principles
2. Reduction of Factor Rewards and Elasticity of Demand
3. Growth and Balance of Trade
4. Growth of Foreign Trade: Some General Considerations
5. Summary
CHAPTER VIII A REFORMED WORLD
1. Good Neighbourliness
2. International Monetary Fund
3. International Bank for Reconstruction and Development
4. G.A.T.T.
5. E.P.U.
6. Summary
APPENDIX
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