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 I. Theory

Collection:: Economics Books

00 INTERNATIONAL TRADE — virtually never — that a given commodity is produced solely by laborers of one group only. The usual situation, when once the division of labor has been considerably developed, is that a commodity is made by a combination of laborers belonging to different groups. The several laborers whose work serves to turn out linen, for example, will probably not be all in the same stra- tum ; some will be well-paid, such as the mechanics who make and repair the machinery, others will be unskilled operatives who tend and operate it. The combinations are various in the different industries, various in different stages of industrial development, various in different countries. They are likely to be less hetero- geneous (to refer again to the example of linen) where there is a household handicraft industry, such as long persisted in Germany, than where there is a highly developed factory system, such as alone is to be found in the American textile industries. The combinations are likely to be more heterogeneous and elaborate in manufactures than in agriculture; more so in countries in- dustrially advanced like England or Switzerland than in those industrially backward like Spain or Portugal. But in every case, if account is taken of all the labor involved in producing a given article — of the labor given to the raw material, of that fashioning it, of that transporting and marketing it — some combination of different grades of labor will be found. The theory of inter- national trade must be adjusted to this all-pervading heterogeneity. For illustration of the working of this factor, return to a case of comparative costs such as was considered in the initial stages of our analysis. Wada 2 In the U. S. 10 days’ labor produce 10 wheat or 2 Sy 2 ae 90 linen ” Germany 10 ” 2 10 wheat »” Germany 10 7 2 i 15 linen EH hed The case is one in which the United States has a comparative advantage in wheat — a superior advantage. Germany has a comparative advantage in linen — an inferior disadvantage. Under barter, the two would obviously find it advantageous to exchange American wheat for German linen. Under a money

Access restriction

Copyright

fullscreen: International trade

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation