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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.

Free trade. --- Protectionism. --- International trade. --- External trade --- Foreign commerce --- Foreign trade --- Global commerce --- Global trade --- Trade, International --- World trade --- Free trade and protection --- Trade, Free --- Trade liberalization --- Commerce --- International economic relations --- Non-traded goods --- Commercial policy --- International trade --- ECONOMICS/Trade & Development --- ECONOMICS/Political Economy

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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.

Foreign trade policy --- Free trade. --- Protectionism. --- International trade. --- AA / International- internationaal --- 382.11 --- 382.30 --- Theorie van het internationale evenwicht. Economische onafhankelijkheid van een natie. Globalisering. Mondialisering. --- Handels- en wisselpolitiek in hun verband met de buitenlandse handel: algemeenheden. --- Free trade --- International trade --- Protectionism --- Free trade and protection --- Commercial policy --- External trade --- Foreign commerce --- Foreign trade --- Global commerce --- Global trade --- Trade, International --- World trade --- Commerce --- International economic relations --- Non-traded goods --- Trade, Free --- Trade liberalization --- Theorie van het internationale evenwicht. Economische onafhankelijkheid van een natie. Globalisering. Mondialisering --- Handels- en wisselpolitiek in hun verband met de buitenlandse handel: algemeenheden --- Commerce international --- Libre-échange --- Protectionnisme --- ECONOMICS/Trade & Development --- ECONOMICS/Political Economy

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Economics