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International Trade and Economic Development History, Trend, and Application

Published online by Cambridge University Press:  07 July 2020

Falih Al-Shaikhly
Falih Al-Shaikhly*
Affiliation:
Department of Finance, American International College
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Extract

Classical economists differentiate between international and domestic trade on the assumption that perfect mobility among factors of production exists within a nation. This is a dynamic analysis. It assumes, however, a static model in terms of the immobility of factors of production between nations. J. S. Mill used such an analysis in his discussion of colonies and considered them part of the mother country, e.g. the West Indies was part of England. Mill stated that factors of production moved freely between England and her colonies.

Type
International Trade and Development
Information
Journal of the Northeastern Agricultural Economics Council , Volume 1 , October 1972 , pp. 14 - 22
Copyright
Copyright © Northeastern Agricultural and Resource Economics Association 

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References

1/ Paul A. Samuelson, “Welfare Economics and International Trade,” (American Economic Review, June, 1938), as cited in, The Collected Scientific Papers of Paul A. Samuelson, edited by Joseph E. Stiglitz, (Cambridge, Massachusetts: The M.I.T. Press, Volume II, 1966), P. 779.Google Scholar

2/ Robert E. Baldwin, “The New Welfare Economics and Gains in International Trade,” Quarterly Journal of Economics, February 1952, P. 93.Google Scholar

3/ John C. H. Fei and Gustar Ranis, Development of the Labor Surplus Economy, Theory and Policy, (Homewood, Illinois: Richard D. Irwin, Inc., 1964), P. 290.Google Scholar

4/ K. E. Berrill, “International Trade and the Rage of Economic Growth,” Economic History Review, April 1960, P. 352. This Berrill idea is of unbalanced growth approach. The promoter of the unbalanced growth approach is Albert O. Hirschman. See A. O. Hirschman, The Strategy of Economic Development, (Forge Village, Massachusetts: The Murray Printing Company, July, 1964).Google Scholar

5/ Jan Pen, A Primer on International Trade, (New York: Random House, Inc., 1967), PP. 28-29.Google Scholar

6/ Staffan Burenstam Linder, Trade and Trade Policy for Development, (New York: Frederick A. Praeger, Publishers, 1967), P. 73.Google Scholar

7/ A. J. Meyer, Middle Eastern Capitalism, (Cambridge, Massachusetts: Harvard University Press, 1959), P. 12.Google Scholar

8/ Linder, op.cit., P. 73.Google Scholar