The Pure Theory of International Trade: A Survey

Jagdish Bhagwati

from Palgrave Macmillan

Abstract: Abstract This chapter surveys that branch of international trade theory which, following Marshall, is generally described as “pure.” This epithet separates it from “monetary” theory. It is not to be taken to imply exceptional esotericism and abstraction from the problems of the real world. Indeed, I propose to give prominence to that part of the growing, new literature in pure theory which attempts explicitly to bring the theory on to the ground—through empirical verification of testable propositions, through measurement of the gains and losses from changes in trade policy and through the formulation of analytical and operational models to assist the developmental planning that is becoming a key characteristic of the developing nations.

Keywords: International Trade; Trade Policy; Tariff Rate; Trade Theory; Price Ratio (search for similar items in EconPapers)
Date: 1965
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-00460-7_3

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DOI: 10.1007/978-1-349-00460-7_3

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