By W. F. Duisenberg (auth.), T. J. Kastelein, S. K. Kuipers, W. A. Nijenhuis, G. R. Wagenaar (eds.)
Almost 3 years handed because the school of Economics of the college of Groningen celebrated its twenty fifth Anniversary in 1973. overdue, yet no longer too past due we are hoping, to offer the lectures of such a lot of our exceptional site visitors, who got here from the USA and varied eu nations to notify the Congress members in their opinion and concepts on "25 Years of monetary concept: Retrospect and Prospect. " the issues we met in publishing the lectures, in response to the contract we made with our site visitors, should not strange, as we all know who has been an editor of this type of quantity prior to. The promise to provide a lecture and to write down it down afterwards besides is far more challenging to keep up than in simple terms to provide a speech. every body understands there's not anything so terrifying as to be reminded of your promise to write your lecture, in particular if just a type-written textual content, positioned down from a tape, is at your disposal. you're convinced of your remembrance: "That very day I heard applause, there have been pleasant phrases and maybe a country of now not finishing enthusiasm. And now I obtain this type-written textual content of my speech with a request, filled with innocence, of those pleasant committee participants, "will you be so type as to arrange your textual content for ebook ']" yet this one, is that this my textual content? Unbelievable.
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Extra info for 25 Years of Economic Theory: Retrospect and prospect
This presupposes a renewed interest in the role of monopolistic market forms in international trade. Analysis along such lines was performed in the late 1930's and the 1940's following the work in micro economic theory by Chamberlin and Joan Robinson. I think a revival of interest in these matters, taking into account advances in the modern theory ofthe firm, is long overdue. The second has to do with a shift of emphasis in analytic problems. The old Roman question: Cui bono? e. for whom are certain effects beneficial should be asked more frequently.
They might lead to better control over markets and/or more efficient ways of organizing production. This is, however, not the same as saying that they also are beneficial for governments and consumers in the host countries. I will not try to venture into any lengthy discussion of the welfare implications of the growth of multinational firms. It is easy to point to possible positive effects for everyone involved: consumers might get better products at lower prices by the application of superior technology and factor prices might increase because of an increase in demand for labor and capital on the part of the multinational corporation.
The effects of factor accumulation centers around the so-called Rybczynski theorem. This established, by an ingenious use of geometry, that if capital (to take an 40 B. SODERSTEN example) accumulates, the relative price of the capital-intensive product would have to fall and that of the labor-intensive product would have to increase; if commodity prices were to be kept unchanged it implied that production of the good intensive in the non-augmenting factor would have to decline in absolute terms.
25 Years of Economic Theory: Retrospect and prospect by W. F. Duisenberg (auth.), T. J. Kastelein, S. K. Kuipers, W. A. Nijenhuis, G. R. Wagenaar (eds.)