Comments on the Papers of Goran Ohlin and André Marchal: 1
Professor Marchal’s theme is economic integration while Dr Ohlin is mainly concerned with industrial policy. But these things are not so unrelated as they may appear since what has come to be called ‘ industrial policy’ is in part designed to put some grit in the machinery of economic integration whether it takes the form of an economic community or the looser form of liberalisation of trade (‘closer economic integration’ as I once heard it called). An economic community that wants to secure the benefits of integration and encourage its members to develop active industrial policies can rely on a plentiful supply of headaches if not a mild dose of schizophrenia. When one studies Professor Marchal on the blessings of integration, therefore, one must turn to Dr Ohlin for Chapter 2 on the curses.
KeywordsInternational Trade Free Trade Industrial Policy Economic Community Fixed Exchange Rate
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