Political economy

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Monograph

Identifikator:: 867647221

URN:: urn:nbn:de:zbw-retromon-93157

Document type:: Monograph

Author:: Chapman, Sydney John http://d-nb.info/gnd/123743141

Title:: Political economy

Place of publication:: London [u.a.]

Publisher:: Williams & Norgate [u.a.]

Year of publication:: 1912

Scope:: 1 Online-Ressource (255 Seiten)

Collection:: Economics Books

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INTERNATIONAL TRADE 149 former. In the former they operate strongly between the most widely distant parts ; but in the latter they weaken or cease when the boundaries of countries have to be crossed. A perfect example of the circumstances of foreign trade would exist in the home trade were it a fact that between two contiguous parts of a country trading with one another there could be no passage [ of labour and capital. Imagine a trade under such conditions between the English counties of Lancashire and Yorkshire, and imagine that in some peculiar way, owing to its- climatic or geographical conditions, or the nature of its soil, Lancashire is exception ally favourable for producing in. When trade opened between Lancashire and York shire the most paying industries in Lancashire would flourish at the expense of the less paying, and the same thing would happen in Yorkshire. To that extent the reactions referred to would be set in motion. But when these reactions, working within the two fields, had brought about their fullest effects,, it would still be true that earnings in Lanca shire would be higher than earnings in York shire, despite the fact that earnings, whether of labour or capital, would be equalised throughout Yorkshire and would, at the

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