International trade

Bibliographic data

Monograph

Identifikator:: 1758394757

URN:: urn:nbn:de:zbw-retromon-136209

Document type:: Monograph

Author:: Taussig, Frank William http://d-nb.info/gnd/120199459

Title:: International trade

Place of publication:: New York, NY

Publisher:: Macmillan

Year of publication:: 1927

Scope:: XXI, 425 Seiten; graph. Darst.

Digitisation:: 2021

Collection:: Economics Books

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PREFACE pt hi I I FT gel vil must inquire whether the facts conform to the elaborated theorems; must make sure that nothing has been forgotten in the premises, nothing has been erroneous in the reasoning. It is incumbent on the economist to follow a procedure similar to that used in the natural sciences. The physicist or biologist who believes that he has hit on a generalization which conforms to the regularities of the external world uses it merely as a working hypothesis. He proceeds to test it by observation and experiment. The economist should do the same for his hypotheses. In economics this task is more difficult than in most natural sciences, because the economist is debarred from the method which has proved in them by far the most serviceable, that of experiment. He cannot experiment ; he can resort to observation only. Observation, however, he must utilize to the utmost — thru history, description, statistics. In so doing he may or may not find confirmation of his hypotheses. Quite probably he will find partial confirmation only; he will have occasion, to a greater or less extent, for revision, amendment, restatement. The task of verification and correction has constituted the most laborious and difficult portion of this book. Yet I am well aware that much more remains to be done, and can only hope that others will carry the same sort of inquiry to better fruition. The difficulties which I have encountered have been due in no small part to the inade- quacy of the available data, and especially to the lack of statistical material put together in such way as to throw light on the validity of the theoretic conclusions. Something will be gained if I have succeeded in calling the attention of statisticians to the problems that arise and to the sort of information that is needed. In every direc- tion — not only from the statisticians, but from the historians, annal- ists, men of affairs — economic science needs more and more of well sifted material, for the confirmation (or confutation, as the case may be) of its hypothetical generalizations. In Part III, which deals with international trade under dislocated exchanges, I have unfortunately been compelled to confine myself in the main to theoretic reasoning. Even more than for Part II, the statistical material, abundant tho it is, does not dovetail with the theoretic frame work. Little of it is in such form that the hypotheses can be either substantiated or overthrown. I am aware, however, that not all that is available has been here examined; further patient research might have made possible substantive results of greater scope. A wish to present for the consideration of the expert certain

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