Global Trade and Conflicting National Interests

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MIT Press, 2000 - Business & Economics - 199 pages
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Ralph Gomory and William Baumol adapt classical trade models to the modern world economy.

In this book Ralph Gomory and William Baumol adapt classical trade models to the modern world economy. Trade today is dominated by manufactured goods, rapidly moving technology, and huge firms that benefit from economies of scale. This is very different from the largely agricultural world in which the classical theories originated. Gomory and Baumol show that the new and significant conflicts resulting from international trade are inherent in modern economies.Today improvement in one country's productive capabilities is often attainable only at the expense of another country's general welfare. The authors describe why and when this is so and why, in a modern free-trade environment, a country might have a vital stake in the competitive strength of its industries.

 

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Contents

National Welfare and Trade in
1
Significance of the Multiple Outcomes That Result from
13
Desirable and Undesirable
23
Multiple Outcomes That Result from Productivity
41
Conclusions for Part I
57
The Economies Model the Equilibria and the Number
77
The Shape of the Graph
83
Predecessors
143
The Persistence of Specialization
163
Notes
177
Index
193
Copyright

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Global Trade and Conflicting National Interests
Ralph E. Gomory,William J. Baumol
Limited preview - 2018

Common terms and phrases

acquired advantage analysis assignment assume become benefit better boundary calculation chapter clearly commodity competitive conclusions consider corresponding cost country's curve described determine developed diagram diminishing discussion economies of scale effect efficient entry equal equilibria equilibrium points example figure firms France French frontier gain given global graph ideal important improvements increase industries interests international trade Japan labor lead less linear models Lionel Robbins lower manufacturing market forces matter means move multiple national income natural obtain once outcomes output particular pattern peak percent position possible productivity productivity levels quantity question reason region relative represent require result retainable retainable industries returns rise scale economies shape share share of world single situation specialized stable substantial supplier tend trading partner tries United upper wage welfare world income yields zero zone

References to this book

About the author (2000)

William J. Baumol is Professor of Economics at New York University and Director of the university's C. V. Starr Center for Applied Economics.

Bibliographic information

QR code for Global Trade and Conflicting National Interests
TitleGlobal Trade and Conflicting National Interests
Volume 8 of Lionel Robbins lectures
AuthorsRalph E. Gomory, William J. Baumol, Edward N. Wolff, Academic Director Berkley Center for Entrepreneurial Studies William J Baumol
Compiled byEdward N. Wolff
Editionillustrated
PublisherMIT Press, 2000
ISBN0262072092, 9780262072090
Length199 pages
Subjects ›  › 

Business & Economics / Economics / Theory
Business & Economics / International / General
  
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