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International Economics:Global Market Competition

Author

Listed:
  • Henry Thompson

    (Auburn University, USA)

Abstract

This text integrates trade theory and open economy macroeconomics with straightforward diagrams and numerous examples. The emphasis is on the gains from competitive trade and the limits of policy. Economics began with the political debate over import tariffs in England. Tariffs lead to net economic losses, except in a few circumstances, and would then lead to retaliation. Consumers and firms importing intermediate inputs lose due to tariffs, as do export industries when other countries retaliate with tariffs of their own. Import competing industries and the government gain from tariffs.

Suggested Citation

  • Henry Thompson, 2024. "International Economics:Global Market Competition," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 13499, October.
    • Handle: RePEc:wsi:wsbook:13499
    as

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    File URL: https://www.worldscientific.com/worldscibooks/10.1142/13499
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    More about this item

    Keywords

    International Trade; Financial Economics; Investment; Policy; Macroeconomics;
    All these keywords.

    JEL classification:

    • F00 - International Economics - - General - - - General
    • F01 - International Economics - - General - - - Global Outlook
    • F1 - International Economics - - Trade
    • F3 - International Economics - - International Finance

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