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Discussing the main problems in the formation of an Economic Union, this book analyses the extent to which national governments would have to give up their freedom of action in domestic monetary, budgetary, fiscal and economic policies if they were to form an effective economic union. The issues of commercial policy, financial and exchange-rate policies, of migration and investment and of the finance of a common defence budget are all covered

1. Introduction -- 2. Three determinants of the rate of economic growth -- 3. Changes in the rate of economic growth -- 4. The state of steady economic growth -- 5. An alternative treatment of technical progress -- 6. The rigidity of machinery -- 7. The price of capital goods -- 8. Depreciation and replacement.

ch. 1. Introductory -- ch. 2. Liberal and planned economics -- ch. 3. An international currency -- ch. 4. Variable foreign exchange rates -- ch. 5. International trade -- ch. 6. International capital movements -- ch. 7. Exchange control and clearing agreements -- ch. 8. International population movements -- ch. 9. Colonies and raw material supplies -- ch. 10. Summary and conclusions.

I. Ten assumptions -- II. Consumers' choice -- III. The market for consumption goods -- IV. The terms of trade -- V. Constant costs -- VI. Increasing costs : (i) comparative advantages -- VII. Increasing costs : (ii) a fixed factor -- VIII. Increasing costs : (iii) differences in factor proportions -- IX. Many factors and many products -- X. Changes in technical knowledge and in factor supplies -- XI. Fixed technical co-efficients -- XII. Economic efficiency and the distribution of income -- XIII. The centrally planned economy : (i) the organization of consumption -- XIV. The centrally planned economy : (ii) the organization of production -- XV. The centrally planned economy : (iii) the deployment of labour : conclusion.

I. The assumptions -- II. The consumption-indifference map and the trade-indifference map -- III. The free trade equilibrium with a zero balance of trade -- IV. The case of constant costs -- V. The case of decreasing costs -- VI. The representation of commercial policy with a zero balance of trade -- VII. A balance-of-trade deficit and the rate of exchange in conditions of free trade -- VIII. The general case -- IX. The trade-indifference map and economic welfare.

I. The objectives of economic policy -- II. The control of inflation -- III. Prices and wages in a mixed economy : 1. responsive prices -- IV. Prices and wages in a mixed economy : 2. responsive wages -- V. The distribution of income and property : 1. indirect measures -- VI. The distribution of income and property : 2. fiscal measures -- VII. Planning and social control : environment, resources, and population -- VIII. The international setting : 1. the price mechanism at work -- IX. The international setting : 2. controls over trade and factor movements.

First published in 1961, this reissue examines the contemporary economic problems of Mauritius alongside those social problems which have a bearing on economic development. As a small and isolated economy, marked by a very rapid rate of contemporary population growth, by an extreme concentration on a single product, and by a great diversity of racial, religious and linguistic groups within the population, Mauritius is a representative microcosm of the economic problems of a large part of the developing world. The book considers the impact of a lower birth rate, emigration and economic developm

Examining the relationship between employment and rates of pay, this book discusses how the choice between different forms of business organization may affect this relationship. For the purposes of the discussion a simple model of an imperfectly competitive economy is constructed and then examined in operation with different organizational forms for the competing firms. Chapters cover the following: The Captialist Wage Economy; The Non-Discriminating Labour Co-operative; The Capitalist Sharing Economy; Discriminating Labour-Capital Partnerships.