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The Mixed Economy in an International Context

  • Brian Hindley

Abstract

This paper is about international trading problems and the mixed economy, so I should start by making plain my belief that there is no inherent logical connection between the two. In principle, incentives to managers and workers in nationalized industries and firms could be structured in such a way that their actions would be similar to those of the managers and workers in privately owned joint stock companies. Trade policies — tariffs, subsidies, and so on — then would have approximately the same effect on state-owned as privately owned companies, and the reactions to trading opportunities of the two would not systematically vary.

Keywords

International Trade Real Wage Trade Flow International Context Subsidy Programme 
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Notes

  1. 2.
    Brian Hindley, ‘Voluntary Export Restraints and Article XIX of the GATT’, in J. Black and B. Hindley (eds.), Issues in Commercial Policy and Diplomacy (London: Macmillan for the Trade Policy Research Centre, 1980) provides some analysis of this instrument.Google Scholar
  2. 4.
    For a more complete analysis of public procurement policy see B. Hindley, ‘The Economics of an Accord on Public Procurement Policies’, The World Economy, June 1978.Google Scholar
  3. 5.
    A stimulating historical analysis appears in Robert Currie, Industrial Politics (Oxford: Clarendon Press, 1979) Chapter 4 has particular relevance.Google Scholar
  4. 6.
    For a simple demonstration of the point, see B. Hindley, Theory of International Trade (London: Weidenfeld and Nicolson, 1974) p. 15.Google Scholar
  5. 8.
    Harry G. Johnson, ‘Optimal Trade Intervention in the Presence of Domestic Distortions’, in Robert Baldwin et al., Trade, Growth and the Balance of Payments (New York: Rand McNally, 1965).Google Scholar
  6. 9.
    For an empirical assessment, see Barbara Epstein, ‘Power Plant and Free Trade’, in Duncan Burn and Barbara Epstein, Realities of Free Trade: Two Industry Studies (London: Allen Unwin, 1972).Google Scholar
  7. 10.
    Sidney Golt, ‘Beyond the Tokyo Round’, The Banker, Aug. 1979, p. 49.Google Scholar

Copyright information

© the British Association for the Advancement of Science 1982

Authors and Affiliations

  • Brian Hindley
    • 1
  1. 1.University of LondonUK

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