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 It is the simpler and more fundamental aspects of the theory which have been chiefly dealt with. Some refinements that bulk large in the literature of the subject have been disregarded. I have directed attention to the leading principles, and with a view to their practical significance rather than their theoretical nicety. More especially, those have been developed for which there seemed to be a possibility of applying the processes of test and verification undertaken in the second Part. Some intricate and much discussed elaborations of theory, especially on the play of demand and on the effects of import and export taxes, have been almost entirely ignored. To the conversant reader an explanation is due, and perhaps an apology, for the simplicity of Part I and for the way in which the illustrative figures are used. The procedure followed can hardly be dignified by calling it mathematical, since only the simplest operations in arithmetic are carried on. My inability to use the methods of higher mathematics prevents me from following beyond the initial stages the elaborated treatment which has been applied to the subject by a long succession of 19th century writers. The excuse which I would offer for handling the problems in ways that must seem ele- mentary to the mathematical economists is two-fold. First, with the tools at my command I have tried to grapple with parts of the subject at large which do not seem to have received attention from those better equipped; and thereby perhaps something has been added to the theoretic framework. And second, I have some hope that the very simplicity of the computations and illustrations of this book will contribute to their practical significance. In order to come as close as possible to actuality, the theoretic conclusions have here been worked out in terms of prices and money incomes. By thus pushing them to the stage of concreteness and verisimilitude, they have been made more amenable to test, verification, correction. In Part II, which takes up these processes of verification, I have departed farther from the beaten track. The pure theory of inter- national trade constitutes only the initial stage toward the ascertain- ment of the things we wish in the end to know. Such indeed is the case with the whole of the pure theory of economics, which can be called “the” theory rather than “a” theory, solely on the ground that no other has been put forward which is generalized, consistent, intel- lectually satisfactory. After all, what we wish to attain is not a neat logical structure, but an understanding of the actualities. We

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