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FRANK WILLIAM TAUSSIG, PH.D., Litt.D., LL.D.
This volume of selections is intended primarily for use in university and college courses on international trade and tariff problems. It is designed to present for discussion the underlying questions of principle and the ways in which they have been dealt with by writers of different schools. I hope that it will also have some wider influence, by bringing to the attention of economists, as well as of students, aspects of the subject which are often neglected. The debate on protection and free trade has been commonly carried on in most superficial fashion, ignoring the fundamental principles of international trade and ignoring also some of the most perplexing problems of commercial policy. It has seemed to me desirable to stimulate intellectual interest by calling attention to the really difficult and debatable questions; and with this end in view selections have been incorporated on phases of the subject not touched in the newspapers and the party platforms. The free range of the selections may add to their interest not only for students but for the general reader who is weary of the everyday platitudes.
The volume will suffice as the sole textbook, or the sole required reading, in a substantial university course on its subject. It can be used, however, as supplementary reading where a single textbook of the usual type forms the backbone of the instruction. While primarily for use in universities and colleges, where emphasis may be expected to be given to the strictly economic aspects of the subject rather than to the business aspects, the volume should prove useful also in courses given in business schools. These latter too often are devoid of any consideration of the economic principles and would be improved by a widening of their scope.
As the table of contents indicates, the book is divided into three parts.
Part I takes up the theory of international trade. The list of writers begins with Ricardo and runs mainly through the British economists of the nineteenth century. It is not from any special