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 157 the introduction of cost of carriage make no essential difference. The peculiar case of international trade, known as “ dumping,” has already been dealt with in Chapter IV. It remains to establish the latter half of our second fundamental principle, namely, the well-worn statement that exports pay for imports. The truth of this statement has been canvassed again and again, and at first experience would seem to lend support to the sceptical. When we examine the statistics of imports and exports of different countries we do not find a single case in which the two appear to balance. Further thought, never theless, will probably lead us to the view that the pronouncement that exports pay for imports, the correctness of which is implied in the reasoning above, is justified. Were it the case that in international trade no credit was given, that people in one country never made loans or gifts to people in another country, that nobody travelled abroad, and no ships coaled and refitted abroad ; and were it a fact that the intangible services performed by people in one country for people in another country were all entered in the statistics of imports and exports—in this event it is obvious that exact correspondence (apart from cost

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