Investment, an exact science

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Monograph

Identifikator:: 865521182

URN:: urn:nbn:de:zbw-retromon-48767

Document type:: Monograph

Author:: Lowenfeld, Henry

Title:: Investment, an exact science

Place of publication:: London

Publisher:: The Financial Review of Reviews

Year of publication:: 1906

Scope:: 1 Online-Ressource (X, 160 Seiten)

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Appendix

Collection:: Economics Books

145 Table I. illustrates the tendency of trade to fall in one part of the world, and simul taneously to rise in another part of the world. In three years Europe’s exports fell and in the same years the exports of the Rest of the World rose. In two years the process was reversed. In one year Europe’s exports rose and the other exports did not move. And in the other eight years Europe’s exports fell or rose disproportionately to the simultaneous rise or fall in the exports of the Rest of the World. Observe that there was only one instance (1893 to 1894) when a fall in Europe’s exports was accompanied by a fall in the exports of the Rest of the World, and note that the latter fall was trivial. Here we have repeated instances of what I may call compensating trade fluctuations, despite the general rising tendency (which we expect) both in Europe’s exports and in the exports of the Rest of the World. The first instance of this compensating trade movement occurs in the first year of the table, when Europe’s exports fell by £20,000,000 and the exports of the Rest of the World rose by £19,000,000. It is, of course, not to be expected that there should occur an exact degree of com pensating trade fluctuation over the vast areas L 2

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