Suchergebnisse

From time to time since the middle of the nineteenth century various efforts have been made to codify international law. Most of these have dealt with administrative and international private law (the conflict of laws) and more particularly with the laws of war and neutrality. Some of these efforts, particularly those of jurists of the Western Hemisphere, have, included in their scope the whole field of public and private international law. It was, however, left for the League of Nations to launch upon a world-wide effort to place in code form those rules which are regarded as the body of law on three important subjects of public international law. These efforts culminated in the Codification Conference held at The Hague from March 13 to April 12, inclusive, 1930. The three subjects before that Conference were Nationality, Territorial Waters, and Responsibility of States for Damage Caused in Their Territory to the Person or Property of Foreigners.

The theory of economic growth is concerned with the behaviour over time of the major economic aggregates—among them consumption and investment, wages and profits. At the present time growth theory is the field of a methodological dispute between the so-called "neo-classical" and "neo-Keynesian" schools of thought. In this paper, in the course of a brief consideration of recent major works in this area, an attempt is made to discover the nature of the disagreement.Let us begin with Meade's Neo-classical Theory of Economic Growth. In a lucid introductory chapter, the assumptions common to the two sides in the dispute are set forth. We are to consider a closed economy, with no government expenditure or taxation. There are two types of goods: machines and a homogeneous consumption good, each produced by means of machines and labour (and perhaps land). The assumption of competitive conditions throughout the economy is interpreted somewhat differently by different authors. To Mrs. Robinson in her Essays (p. 8), it means that in long-run equilibrium a uniform rate of profit rules in all sectors of the economy. To Meade it means, in addition, that each factor of production receives as payment the value of its marginal product.