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SUMMARYMost of the important generalizations of international trade theory that owe their origin to the classical school are long‐run and static in nature, implicitly assuming that disequilibrium is a transitory state and that passage between equilibria is untroubled. Yet past experience seems to indicate that external disequilibria can remain for extended periods of time, and that the modern system is a disequilibrium system.The nature of the international disequilibrium system has sometimes been attributed, erroneously, to the Keynesian foreign‐trade‐multiplier theorem that an increase in exports will induce an increase in imports which is smaller than the initial increase in exports, and this has been the origin of the belief that "HUME'S law" is invalid in the case of saving and unemployment. However, HUME'S law is valid even in this case if gold flows are allowed to have their natural effect on the internal money supply and hence on interest rates, investment and incomes. HUME'S law is therefore valid in the case of Keynesian unemployment, although the price‐specie‐flow mechanism is replaced by an income‐specie‐flow process.The true nature of the international disequilibrium system derives from the fact that central banks do not allow externally‐induced gold flows to affect the internal supply of money since that would conflict with the new primary goal of monetary policy; full employmentwithout inflation. The new function of monetary policy leaves a policy vacuum with respect to the balance of payments, except insofar as ad hoc policies are designed to suit special circumstances. Gold flows are therefore automatically neutralized by open market operations in some countries, while in other countries monetary policy in effect cancels or reinforces the monetary effect of gold flows in the pursuit of internal stability.At critical times, when foreign exchange reserves become dangerously low and subject to speculation, or when they become burdensomely high, action by the authorities must be introduced even if this is at the expense of internal stability. Even in these cases, however, the system need not become an equilibrium system since the objective might be to recoup reserves or allow them to run down.

"Die vielfältigen Regelungen des 'Arbeitsvölkerrechts', die auf UN-Ebene wie auf europäische Ebene existieren, enthalten vergleichsweise hohe Schutzstandards. Ihre innerstaatliche Umsetzung stößt weniger auf juristische als auf faktische Schwierigkeiten. Für die Gewerkschaften stellt sich die wichtige Aufgabe, sich nachhaltig für die Einlösung der in Pakten, Konventionen usw. enthaltenen Ansprüche einzusetzen. Wenn Regierungen den Normen des Internationalen Arbeitsrechts primär 'Aushängeschildfunktion' zuweisen, heißt dies nicht, daß es auf alle Zeiten dabei bleiben müßte. Insbesondere dort, wo kein Widerspruch zum deutschen System der industrial relations besteht, lassen sich auch in der gerichtlichen wie der außergerichtlichen Praxis Fortschritte erreichen." (Autorenreferat)

The idea of weighted voting is not new. In 1849 Sir George Cornewall Lewis stated that "history affords instances in which opinions have been weighed instead of counted", and the subsequent unfolding of a system which finds notable contemporary expression in the International Bank for Reconstruction and Development and the International Monetary Fund has seen various manifestations. While it would be extravagant to assert that weighted voting is a crucial issue of the present day, or even a hotly-contested one, its potentialities as a means toward more effective international procedure merit discussion.

From January 13 to March 26, 1953, the eighteenth session of the Council of the International Civil AviationOrganization met in Montreal. Activities at this session were predominantly concerned with matters pertaining to the seventh session of the ICAO Assembly, which was scheduled to open in June in Brighton, England. It was decided that invitations to the Assembly should be extended to Japan and Libya, invitations were also approved for those international organizations which had been invited to the fourth session of the Assembly and to the Organization of American States and the Council of Europe, and supporting documentation for items on the Assembly agenda was approved. On the recommendation of the Finance Committee a total budget for the organization for the fiscal year 1954 of Canadian $3,289,606 was approved for submission to the Assembly. Assessments for 1953 were then fixed at two units each for Korea and Libya, the two newest members of the organization.

The process of globalization seems to undermine the nation-state as well as liberal democracy. In consequence, the need to establish democratic structures on an international level is widely postulated. It is argued here that discussions on the alleged loss of the nation-state's sovereignty are characterized by several theoretical deficiencies: (1) They employ a limited concept/definition of the state. (2) They are based on a limited understanding of the relations of capitalist globalization & political regulation. (3) They use a concept of democracy that is rather foreshortened & instrumentalizing. However, to gain sufficient understanding of the chances for international democracy & of the role of nongovernmental organizations in the framework of an "international civil society," it is necessary to recognize the fact that the nation-state continues to be a precondition of globalization, though with a modified role; ie, Karl Marx's (1973 edition) "antagonism of the bourgeois constitution" is renewing itself in a different mode. 65 References. Adapted from the source document.

After World War I, membership in the League of Nations represented an important step for the British Dominions on the road to foreign policy independence. The internationalism of the League of Nations was not a purely political phenomenon, but also had a social dimension. In particular, the Geneva based Secretariat of the League of Nations evolved into a hub of liberal internationalism. Benjamin Auberer examines these networks by investigating the careers of five employees of the League of Nations from Australia and New Zealand and thus contributes to a global history of the League of Nations and its bureaucracy.