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Selected Readings in International Trade and Tariff Problems
Frank William Taussig
Попередній перегляд недоступний - 2015
abroad advantage agrarian agricultural agricultural products American amount annual Australia Austria-Hungary balance balance of trade bill branches Britain capital causes cent cheap cheaper commerce commodities comparative advantage competition consequence considerable consumers consumption corn cotton demand diminished domestic production duty economic effect employed employment England equal Europe excess of exports exchange expense factor favorable foreign countries foreign trade France free trade German Empire Germany gold and silver gold countries Government grain greater higher imports increase industry interest international trade labor less linen machinery manu means ment merchandise merchant money incomes money wages nation natural necessary obtain operation paid payment period population Portugal pounds sterling productive forces profits proportion protection purchase quantity question raw materials reduced remittances result revenue Russia sell sumers supply supposed tariff things tion United value of money wheat whole wine
Сторінка 248 - ... and to purchase with a part of its produce, or, what is the same thing, with the price of a part of it, whatever else they have occasion for. What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom.
Сторінка 276 - The superiority of one country over another in a branch of production often arises only from having begun it sooner. There may be no inherent advantage on one part, or disadvantage on the other, but only a present superiority of acquired skill and experience.
Сторінка 239 - By means of it, the narrowness of the home market does not hinder the division of labour in any particular branch of art or manufacture from being carried to the highest perfection. By opening a more extensive market for whatever part of the produce of their labour may exceed the home consumption, it encourages them to improve its productive powers, and to augment its annual produce to the utmost, and thereby to increase the real revenue and wealth of society
Сторінка 59 - Gold and silver having been chosen for the general medium of circulation, they are, by the competition of commerce, distributed in such proportions amongst the different countries of the world, as to accommodate themselves to the natural traffic which would take place if no such metals existed, and the trade between countries were purely a trade of barter.
Сторінка 534 - Our progress toward a wise conclusion will not be improved by dwelling upon the theories of protection and free trade. This savors too much of bandying epithets. It is a condition which confronts us — not a theory.
Сторінка 245 - Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of society, which he has in view. But the study of his own advantage naturally or, rather, necessarily leads him to prefer that employment which is most advantageous to the society.
Сторінка 3 - No extension of foreign trade will immediately increase the amount of value in a country, although it will very powerfully contribute to increase the mass of commodities, and therefore the sum of enjoyments.
Сторінка 240 - The discovery of America, and that of a passage to the East Indies by the Cape of Good Hope, are the two greatest and most important events recorded in the history of mankind.
Сторінка 256 - As defence, however, is of much more importance than opulence, the act of Navigation is, perhaps, the wisest of all the commercial regulations of England.
Сторінка 247 - By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention, v Nor is it always the worse for the society that it was no part of it.