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Category Archives: Trade
A recent paper proposes that, post-Brexit, the UK should lower tariffs on imported fish to benefit consumers. That may be a good idea, but the effect on fish stocks in the regions of origin should also be considered. The Institute … Continue reading
What determines the production quantities and relative prices of internationally-traded goods? Some textbooks suggest a misleading answer. An old textbook I have on my shelves (Wells 1969 (1)) has a diagram similar to Diagram 1 below, showing the production possibility … Continue reading