International Trade : An Application of Economic Theory

By Hobson, John A.

Book Id: WPLBN0000662032
Format Type: PDF eBook
File Size: 207.92 KB.
Reproduction Date: 2005

Title:	International Trade : An Application of Economic Theory
Author:	Hobson, John A.
Volume:
Language:	English
Subject:	Political science., Economics and literature, Economic & political studies series
Collections:	Economics Publications Collection
Historic Publication Date:
Publisher:	Archive for the History of Economic Thought


Citation APA MLA Chicago Hobson, J. A. (n.d.). International Trade : An Application of Economic Theory. Retrieved from http://gutenberg.us/

Description
Economic Theory Literature

Excerpt
Excerpt: Chapter I. The Importance of External Trade. Since the end of industry is to place consumable goods in the hands of consumers, the industrial prosperity of a nation is measured by the quantity of material and non-material goods of various sorts which are consumed by its members. The employment of capital and labour in the industrial arts, trades, and professions is to be regarded as a means to the production of commodities. The quantity of such employment cannot, however, be taken as a reliable index of industrial prosperity, for that country will be most prosperous which can secure through home industry or foreign commerce the largest number and variety of commodities for the smallest employment of capital and labour. Industrial progress, indeed, depends upon the economy of capital and labour. It is of the first importance to the understanding of the nature and uses of commerce to recognise that it must be regarded solely as an instrument for getting commodities into the hands of consumers.

Table of Contents
Contents Preface .......................................................................................................................................................... 5 Chapter I. The Importance of External Trade ............................................................................................... 6 Chapter II. The Alphabet of Free Exchange ................................................................................................ 10 Chapter III. Exchange Between ?Non-competing Groups? ........................................................................ 14 Chapter IV. Nations as Trading Groups ...................................................................................................... 22 Chapter V. Non-Protective Import Duties ................................................................................................... 28 Chapter VI. The Incidence of Protective and Preferential Duties ............................................................... 33 Chapter VII. How the Balance of Imports and Exports Is Achieved .......................................................... 37 Chapter VIII. What a Nation Buys and What it Pays With ......................................................................... 40 Chapter IX. Can Protective Countries ?Suck? a Free-Trade Country? ....................................................... 46 Chapter X. The Mystery of ?Dumping? ...................................................................................................... 49 Chapter XI. Protection as a Remedy for Unemployment............................................................................ 58 Chapter XII. Protection and Socialism ........................................................................................................ 69 Notes ........................................................................................................................................................... 75