By Fritz Machlup (auth.)
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Additional info for A History of Thought on Economic Integration
Should we as responsible theoretical and political economists encourage or even entice our students to jump from idealised explanatory models to practical (or rather impractical) political problems of the real world? , Amsterdam: Elsevier, 1965) p. 78. 4 Gunnar Myrdal, An International Economy: Problems and Prospects (New York: Harper, 1956) pp. 1-4. : Free Press, 1952) p. 65. 4 The Main Strands of the Idea Every serious discussion of economic integration, national, multinational, or worldwide, is based on concepts and issues of international-trade theory.
If each of the public goods had to be paid for out of taxes and each citizen knew how much his own share of the cost would be, we might see that the effective demand for many public goods is not so strong as the proponents had thought it was. I cannot furnish empirical support for this statement, but I am highly sceptical about the strength which the demand for public goods would have if the citizens were fully cognizant of the unavoidable assessments of the individual contributions to the cost of providing many of these public goods.
Universal has been used to mean (i) worldwide; (ii) comprising all parts (or sectors) of the relevant region. In the first sense universal is a synonym for global in sense (i), in the second sense it is the opposite of partial. Sectoral has been used to mean (i) limited to particular industries or sectors of the economy or economies concerned; (ii) gradual, proceeding successively from sector to sector. In the second sense sectoral was used in a report prepared for an international conference. 12 Functional has been used to mean gradual, proceeding successively from sector to sector; by means of price incentives operating in the free market.
A History of Thought on Economic Integration by Fritz Machlup (auth.)