The story of international trade (eBook, ePUB)
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Trade exchange between the countries of the world is considered as old as human history itself, and economists have differed in interpreting the rules that govern it. Some, including the pioneering English economist Adam Smith, see that foreign trade is nothing but an extension of internal trade, as each of them represents a means of disposing of surplus production and bartering it. With other production, both of them also work to overcome market tightness by providing the opportunity to apply the principle of division of labor, specialization, and raising productivity. The modern school of fo...
Trade exchange between the countries of the world is considered as old as human history itself, and economists have differed in interpreting the rules that govern it. Some, including the pioneering English economist Adam Smith, see that foreign trade is nothing but an extension of internal trade, as each of them represents a means of disposing of surplus production and bartering it. With other production, both of them also work to overcome market tightness by providing the opportunity to apply the principle of division of labor, specialization, and raising productivity. The modern school of foreign trade, or the so-called Swedish school, still believes that there is no distinction between foreign trade and internal trade on the basis that each of them has the same economic phenomena, while another group of economists explains the emergence of international trade, and among them is "David Ricardo," who says that distinguishing between them is on the basis of difficulty. The transfer of production factors from one country to another. Some also tend to separate foreign and internal trade based on a historical basis, which is that the sciences of economics and statistics began first with regard to customs of exports and imports.
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