The fundamentals of international trade and the balance of payments are well known. Unfortunately, they are often sadly neglected by policy makers and not well understood by journalists who opine on such matters. As a result politicians advocate a variety of tax and trade measures that sound desirable but not only cannot be achieved but actually hurt the economy. This book is designed to lay out the fundamentals that must be present for policy to work as intended. The material in this book was tested over an 11 year period on more than 150 students, most of whom entered the course with a minimum of training in economics. Their difficulties were noted and the material refined to overcome them. This book is intended for those who have a serious interest in policy dealing with international trade and finance. While the subject matter has not been made simple, an impossibility, it has been made clear.
A Guide to Understanding International Trade and the Balance of Payments
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The fundamentals of international trade and the balance of payments are well known. Unfortunately, they are often sadly neglected by policy makers and not well understood by journalists who opine on such matters. As a result politicians advocate a variety of tax and trade measures that sound desirable but not only cannot be achieved but actually hurt the economy. This book is designed to lay out the fundamentals that must be present for policy to work as intended. The material in this book was tested over an 11 year period on more than 150 students, most of whom entered the course with a minimum of training in economics. Their difficulties were noted and the material refined to overcome them. This book is intended for those who have a serious interest in policy dealing with international trade and finance. While the subject matter has not been made simple, an impossibility, it has been made clear.
An original and systematic synthesis of the major postwar developments in theory and policy of balance-of-payments adjustment, this book focuses on the present-day system of pegged-but-adjustable...
This general introduction to the theory of money and of balance of payments adjustment was originally published in 1969. It was the first book to pay full attention to the theory of assets: the...
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