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

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Part II. Problems of verification

Collection:: Economics Books

GREAT BRITAIN, I 241 Here are phenomena which (so far as concerns the present inquiry) can be more easily explained away than they can be explained. The price changes up and down are the changes of all prices, as recorded by the usual index numbers; nothing appears as to any special changes in import prices or domestic prices. The movements of money incomes might be significant. They would be indicative of tendencies to gain or loss from the condi- tions of international trade, if they could be regarded as having been influenced solely by this factor. But they were of course influenced by sundry other factors as well — by the general down- ward trend of prices and incomes the world over between 1820 and 1850; by the sharp upward movement of similar wide sweep that followed the Australian and Californian gold discoveries; and so on thru the familiar fluctuations. And obviously there were other changes than those due to varying monetary condi- tions. Consider the commanding position which Great Britain held as a manufacturing country during the second and third quarters; the heavy and increasing demand for her products; the probability that the barter terms of trade thruout this half- century were favorable to her; and then the slow change during the last quarter of the century, the rise of rival manufacturing countries, the modified conditions of international trade and in- ternational competition. How disentangle the effect of any one among the many and various factors? How verify in the actual course of events the theoretic previsions ? A further circumstance calls for comment, one connected with the puzzling movement of prices and incomes, and connected, as these were, with the actual working of the machinery of inter- national trade. It is the relation of the flow of specie to the hanging phenomena and the changing relations. The excess in money values of exports at one period and of im- ports at another appears to be in accord with the net balance of payments. This accordance is not peculiar to Great Britain. [t is found in the international trade of all the countries of western civilization. So far we have a verification of theoretic analysis; the observed phenomena are such as general analysis leads us to

Access restriction

Copyright

fullscreen: International trade

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation