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The textbook theory of tariffs, and their converse, the movement to freer trade, has more elements than we need for the nineteenth century, but also lacks some. In the usual comparative statics, a tariff may be said to have ten effects: on price, trade, production (the protective effect), consumption, revenue, terms of trade, internal income distribution, monopoly, employment and the balance of payments.

In reading the two books under review, I was reminded of Senator Fulbright's book The Arrogance of Power—or at least of the title. Each of these two works, also dealing with the relationships of the United States to the less developed world, but each making a different point, can be summed up in a similar substantive phrase: Geiger's thesis would be "The Humility of Ignorance"; Kaplan's, "Commitment to Responsibility."