This study begins with a brief survey of economic thought on the relationship between foreign trade and national power, from the Mercantilists on. Chapter II attempts a systematic theoretical approach to the subject. It first makes clear the fundamental basis of the possible use of foreign trade as an instrument of national power policy. Using well-known concepts of economic analysis, it proceeds to show under what conditions and by means of what policies this instrument is likely to attain its highest efficiency. The principles of power policy thus deduced theoretically are then compared with the actual practices followed by German trading methods in recent years. Toward the end of this chapter the reader will be carried into a detailed discussion of certain problems of the theory of international trade, which are touched upon earlier in the chapter. Chapter III is applied to the historical background of our problem. It gives a survey of the literature on "economic aggression" before and during World War I and brings out the importance of the Paris Economic Conference of the Allies in 1916 for the Versailles Treaty and postwar economic policies. In Chapter IV we review in the light of our theoretical and historical analyses certain safeguards or remedies which could be or have been proposed to prevent the use of foreign trade as an instrument of national power policies. Certain questions raised in Part 1 can be answered in quantitative terms. Part 2 consists, therefore, of an exposition of various trends of international trade in recent years disclosed by statistical analysis. In Chapter V we calculate an index number expressing the extent to which the trade of the large trading nations is or has been directed by preference toward the smaller trading countries. Chapter VI gives index numbers for the degree of concentration of their foreign trade on one or a few big markets or sources of supply. Finally, in Chapter VII we measure the extent to which world trade has been based primarily on an exchange of manufactures against raw materials and foodstuffs. This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1945, with an expanded edition published in 1980.

We can't sit under Mises at his famous Vienna private seminar. We can't go back in time and attend his New York seminar, or follow him to his speaking engagements that he held in the 50s and 60s.But thanks to this second volume in a thrilling series (here is volume one), we do have access to what he said. He is warm, funny, passionate, and learned. This book provides a candid look at the man and his teaching style. It demonstrates his dazzling command over the material, and teaches in a breezier way than his treatises.This volume contains nine lectures delivered over one week, from June 23, to July 3, 1952, at the San Francisco Public Library. Mises was at his prime as a teacher and lecturer. He shares a lifetime of learning on topics that were (and remain) central to American public life.As the title indicates, his main focus is on Marxism. He discusses Marx and his place in the history of ideas, the destruction wrought by his dangerous ideology, the manner in which his followers have covered up his errors, and how the Marxists themselves have worked for so long to save Marxism from itself. He discusses Marxist claims about history and refutes the smear of the industrial revolution.The approach is systematic but casual. So the reader encounters wonderful insights in the form of short asides. For example: "The worst thing that can happen to a socialist is to have his country ruled by socialists who are not his friends."As a lecturer, he is steady and relentless. The reader can nearly "hear" him speaking through the prose. And there are times when Mises reveals a level of rhetorical passion that you would never encounter in print. That's because what is printed here are not pre-prepared lectures in the sense that they were written out. They were transcribed by Bettina Bien Greaves from what he actually said.Thus can we hear this passage:It is not true, as Marx said, that the improvements in technology are available only to the exploiters and that the masses are living in a state much worse than on the eve of the Industrial Revolution. Everything the Marxists say about exploitation is absolutely wrong! Lies! In fact, capitalism made it possible for many persons to survive who wouldn't have otherwise.Some readers of Mises's larger works have said that while his rigor is dazzling, the man himself can seem remote. Whether or not you agree with this observation, Mises comes across in these lectures as brilliant but very warm and charming in an old world sense.This approach is particularly fruitful in the last four of the lectures, which cover topics such as savings, interest, inflation, profit and loss, and the place of foreign investment. The lecture on interest rates, for example, must surely rank as one of the best explanations of this complicated topic. He recounts the history of the attempt to suppress interest rates, from the ancient world to the modern period. He explains why this cannot work because interest is merely the objective sign of a phenomenon that is integral to human action. As he moves on to money, Mises reveals himself to be tougher on the issue of fiduciary media than he was when he wrote his 1912 book The Theory of Money and Credit.In response to a question Mises says: "In the future no additional banknotes should be issued, no additional credit should be entered on a bank subject to check, unless there is 100 percent coverage in money."Also not to be missed is Mises's wry defense of "money cranks": at least they were only more consistent than the advocates of Keynesian and monetarism.Mises was clearly pressed for time, so he had to be at once thorough and move quickly through the material. It's still not "light reading" by the normal standards, but for people who want to see a great mind at work, this has a wonderful element of spontaneity about it that attracts and teaches at the same time.

Bearing on fundamental issues of economic theory, history, and public policy, this volume elaborates and goes beyond themes enunciated in W. W. Rostow's previous works. The eight essays presented here are unified by the author's insistence that neo-Keynesian and neoclassical theory are an inadequate basis for economic analysis and policy prescription. Changes in technology and in the supply of energy, food, and raw materials, he contends, must be taken into account. The scale and character of the investments required to respond to these changes link his analysis back to conventional income analysis. Rostow outlines in several contexts the framework for a general, disaggregated theory of production and prices that meets this criterion. The theoretical and historical essays include a review and unification of various long-cycle theories; a formal mathematical model of the Kondratieff cycle; a review of theories relating technology and the price system, including Rostow's own formulation of the appropriate linkage; a lengthy analysis of the pre-1914 relation between money and prices, including a detailed critique of modern monetarist interpretations; and an analysis of the proposition that economic growth assumes an S-shaped path of acceleration and deceleration. The policy essays include an examination of the links between energy-related investment, full employment, and patterns of regional development in the United States; the discussion of an appropriate framework and procedure for North-South international economic negotiations; and the text of a 1965 talk on inflation that touches on the relations among economics, economists, and the performance of societies as a whole.

This first comprehensive story of logging, lumbering, and forest conservation in Texas records the industry's history from the earliest days of the Republic, when a few isolated operations provided for local needs, through the first four decades of the twentieth century. Supplemented by over one hundred photographs, many never before published, the text re-creates Texas' heyday as one of the nation's leading timber producers. At that time, the forested area equaled the state of Indiana. In the words of one visitor, the forest was "like a vast wave that has rolled in upon a level beach . . . creeping forward, thinning out, and finally disappearing, except where, along a river course, it pushes far inland." The industry's most significant growth occurred between the end of Reconstruction and the beginnings of World War II, when entrepreneurs from the North, the South, and the East ventured into the vast stands of virgin timber in the Texas Piney Woods. These pioneers, attracted by the great potential fortunes to be made, provided the capital, expertise, and energy that introduced large mills and railroads to Texas lumbering and developed markets for their products--not only in Houston, Dallas, and other Texas cities but also across the United States and throughout the world. Various lumber companies, logging and mill operations, company towns, and the genesis of forest conservation are all featured in the text and illustrations. This account will appeal to historians, conservationists, and general readers interested in the Texas lumber industry and in Texas economic history.

The Production And Distribution Of Knowledge In The United States is a comprehensive book written by Fritz Machlup that explores the ways in which knowledge is produced and disseminated in the United States. The book covers a wide range of topics related to knowledge production and distribution, including the role of universities, scientific research, and intellectual property rights. Machlup also examines the impact of technology on knowledge production and distribution, as well as the ways in which knowledge is used in various sectors of the economy. The book provides a detailed analysis of the complex processes involved in the creation and dissemination of knowledge, and offers insights into the challenges and opportunities facing knowledge-based industries in the United States. Overall, The Production And Distribution Of Knowledge In The United States is a valuable resource for anyone interested in understanding the dynamics of knowledge production and distribution in modern society.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.

Ranking among the most distinguished economists and scholars of his generation, Jacob Viner is best remembered for his work in international economics and in the history of economic thought. Mark Blaug, in his Great Economists Since Keynes (Cambridge, 1985) remarked that Viner was "quite simply the greatest historian of economic thought that ever lived." Never before, however, have Viner's important contributions to the intellectual history of economics been collected into one convenient volume. This book performs this valuable service to scholarship by reprinting Viner's classic essays on such topics as Adam Smith and laissez-faire, the intellectual history of laissez-faire, and power versus plenty as an objective of foreign policy in the seventeenth and eighteenth centuries. Also included are Viner's penetrating and previously unpublished Wabash College lectures. "Jacob Viner was one of the truly great economists of this century as both teacher and scholar. This collection ... covers a wide range with special emphasis on the history of thought. Today's economists will find [the essays] just as thought-provoking and as illuminating as did his contemporaries. They have aged very well indeed."--Milton Friedman, Hoover Institution "Jacob Viner was a great and original economic theorist. What is rarer, Viner was a learned scholar. What is still rarer, Viner was a wise scientist. This new anthology of his writings on intellectual history is worth having in every economist's library--to sample at intervals over the years in the reasoned hope that Viner's wisdom will rub off on the reader and for the pleasure of his writing."--Paul A. Samuelson, MIT "I am frankly jealous of those who will be reading Viner's essays for the first time, marvelling at his learning, amused by his dry wit, instructed by his wisdom. But although I cannot share their joy of discovery, I shall be able to savor the subtleties that emerge from rereading these splendid essays."--George J. Stigler, University of Chicago "This volume will be a treat for the reader who appreciates scholarship, felicitous use of language, and the workings of a great mind. The Wabash lectures are gems, and the introduction by Douglas Irwin contributes significantly to our understanding of Viner's accomplishments."--William J. Baumol, Princeton University/New York UniversityOriginally published in 1991.The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

With this first of eight volumes, the eminent economist Fritz Machlup launches his monumental inquiry into the production of knowledge as an economic activity. Volume I presents the conceptual framework for this inquiry and falls into three parts: Types of Knowledge, Qualities of Knowledge, and Knowledge as a Product. Originally published in 1981. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Since World War II six risk-sharing institutions to stimulate foreign investment have been established by the U.S. government and several international organizations. These are thoroughly studied. Originally published in 1965. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.