Intra-‘Industry’ Specialisation and the Foreign Trade of Industrial Countries

P. B. W. Rayment

Chapter Chapter 1 in Controlling Industrial Economies, 1983, pp 1-28 from Palgrave Macmillan

Abstract: Abstract In 1923, Alfred Marshall declared that the relative importance of manufactured goods in world trade was largely a temporary phenomenon due to countries being at different stages of industrial development. Eventually the spread of modern technology and economic growth would enable the lagging countries to acquire the same skills and aptitudes as the industrial leaders and then the relative importance of trade in manufacture would decline: ‘… those local inequalities of human faculty, which now afford a solid basis for such trade, seem likely on the whole to diminish’ (1). Marshall in fact claimed that the proportion of world trade governed by differences in natural resources was already rising as a result of this process. Why Marshall was wrong or, at least, has so far proved to be so, is the underlying theme of this paper.

Keywords: Machine Tool; International Trade; World Trade; Trade Theory; Total Trade (search for similar items in EconPapers)
Date: 1983
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-06340-6_1

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349063406

DOI: 10.1007/978-1-349-06340-6_1

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().