International trade

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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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Document type:: Monograph

Structure type:: Chapter

Title:: Part I. Theory

Collection:: Economics Books

CHAPTER 13 Duties oN IMPORTS AND THE BARTER TERMS oF TRADE IT would be possible to carry much further the sort of analysis which has been undertaken in the preceding chapters. The fact that each country deals not with one other only, but with many, would lead to modifications or elaborations over and above those already considered. The competition of various countries as buyers and sellers obviously has the effect of limiting more nar- rowly the range within which the barter terms of trade may vary; the terms of trade become dependent not on the demand schedules of any pair or trio of countries, but on those of all the trading coun- tries combined. So much goes without saying. More intricate are the possibilities in another direction. The imposition of taxes on imports and exports may affect the barter terms of trade — almost surely will do so. A tax on imports is equivalent to a deliberate lessening by the taxing country of its demand for foreign products. A tax on exports is equivalent to calling on other countries to decide whether they will continue to lay out as much as before on the taxing country’s products. These may be described as intentional deflections of the play of demand ; and they may be analyzed as having different effects according to the way in which they are levied — whether as taxes in kind, or (of course the only way that signifies in practice) as taxes in money. The effects which taxes may have on the volume of inter- national trade and on the barter terms of trade have been the occasion of some of the most ingenious and intricate theoretical reasoning, and some most remarkable manifestations of casuistic ability. I shall not attempt to refine further in the theoretical analysis. In doing so, there is always danger of lapsing into intellectual gymnastics. The suppositions made are sometimes improbable 141

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