Word: edgeworths
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Professor F. Y. Edgeworth delivered the second of his lectures yesterday evening on "The Exceptions to the Rule of Free Trade." Though the presumption is always against protection, he said, reliable economists have discussed several important exceptions to the rule of free trade. The first of these, protection for the sake of defense, must be settled largely by military experts, but the economist may insist that economic effects, such as the diversion of capital to less productive industries, be carefully considered. Protection to counteract foreign bounties, which constitutes the second exception, is apt to be carried too far, and protection...
...Lectures on Economics. II. The Exceptions to the rule of Free Trade. Professor F. Y. Edgeworth. Sever...
Professor F. Y. Edgeworth, of Oxford University, delivered the first of his series of lectures yesterday evening, on the special subject of "The Theory of Value as Applied to International Trade." The pure theory of value investigated by Cournot and his followers, he said, may be applied to some of the principal propositions and problems in economics. It is particularly applicable to international transactions. The theory of exchange traced by Jevons facilitates the comprehension of "comparative cost" and other complications in the doctrine of international values. The difficulty of comparing quantities of labor or productive power is lessened by Mangoldt...
...Lectures on Economics. II. The Exceptions to the rule of Free Trade. Professor F. Y. Edgeworth. Sever...
...Lectures on Economics. III. Value in a Regime of Monopoly. Professor F. Y. Edgeworth. Sever...