Stock Image

The theory of trade and protection

Travis, William Penfield

0 ratings by Goodreads
ISBN 10: 0674883055 / ISBN 13: 9780674883055
Published by Harvard University Press, Cambridge, 1964
Used Condition: Good Hardcover
From Better World Books: West (Reno, NV, U.S.A.)

AbeBooks Seller Since March 14, 2016

Quantity Available: 1

Buy Used
Price: US$ 6.38 Convert Currency
Shipping: US$ 0.00 Within U.S.A. Destination, Rates & Speeds
Add to basket

30 Day Return Policy

About this Item

Ships from Reno, NV. Former Library book. Shows some signs of wear, and may have some markings on the inside. Bookseller Inventory # GRP92122064

Ask Seller a Question

Bibliographic Details

Title: The theory of trade and protection

Publisher: Harvard University Press, Cambridge

Publication Date: 1964

Binding: hardcover

Book Condition:Good

About this title

Synopsis:

How much does a country's commercial policy affect its economic efficiency? How would free trade change the structure of a country’s economy and foreign trade? William Penfield Travis extends the Heckscher-Ohlin trade theory and addresses it to an empirical study of these and related questions. He argues that trade flows fail to reflect relative factor endowments because protection systematically nullifies their effects, and that therefore protection must be incorporated in any positive trade theory.

The author begins by developing a new concept―the equalization region―which he uses to reexamine the assumptions and the logic of the Heckscher-Ohlin theory and of its principal part, the factor-price equalization theorem. This analysis produces a fundamental reinterpretation of Leontief’s scarce-factor paradox, one which justifies Leontief’s work as an empirical test of trade theory under free trade which indicates its necessary modifications under protection. These modifications are then used to show that Leontief in fact measured the effects of American and foreign tariffs and other trade restriction on relative factor prices here and abroad.

To corroborate his theoretical analysis, Travis makes a detailed study of the commercial policies of five main industrial countries; he shows the common structure of protection and its systematic relationship to relative factor endowments. He shows also that protection, by distorting their relative prices, causes considerable substitution of raw materials for labor and capital inputs in manufacturing. The author concludes this important book by indicating some of the new forms which protection is taking throughout the world and by arguing that protection, past and present, is the main force preventing the spread of high living standards to the impoverished areas of the world.

From the Back Cover:

The author begins by developing a new concept--the equalization region--which he uses to re-examine the assumptions and the logic of the Heckscher-Ohlin theory and of its principal part, the factor-price equalization theorem.

"About this title" may belong to another edition of this title.

Store Description

Visit Seller's Storefront

Terms of Sale:

Better World Books is proud to deliver not only great books, but also quality
customer service. If you are not satisfied with your order, please do not
hesitate to contact us. Abebooks will provide you with our contact information
after you place your order. We will get back to you as soon as possible to
resolve any order issues to your satisfaction.

Every purchase you make from BWB benefits one of our world literacy partners. To
date, Better World Books has pledged over $1,000,000 to literacy p...

More Information
Shipping Terms:

All orders ship out within 1-2 business days. Over 2 million satisfied customers and growing!

List this Seller's Books

Payment Methods
accepted by seller

Visa Mastercard American Express