Summary Record of the Discussion — Session III

  • Michael Kaser
Part of the International Economic Association Series book series (IEA)


Sir Roy Harrod began the discussion with comments on the paper by Dr. Novozámsky. He drew attention to the passage which stressed that trade between socialist countries was not only co-operative, but also planned, and that this planning was essential, since, otherwise, variations in foreign trade might disrupt domestic plans (p. 145). It might be a digression, he admitted, to say that capitalist countries should shape their own commercial policies with this in view, but it was a relevant counter to Dr. Novozámsky’s contentions that there was widespread belief in capitalist countries that socialist countries were inclined to conduct their export trade in an irregular manner, suddenly dumping surpluses to suit their own convenience. He pointed out that the foreign trade of capitalist countries, although not planned, grew in a more or less regular and harmonious way, and that fears of market disruption militated against an extension of trade with socialist countries. However misplaced they might be, they were honestly entertained and it would be expedient for the socialist countries to show evidence that such fears were unfounded.


Foreign Trade Small Country Socialist Country International Division Commercial Policy 
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© International Economic Association 1968

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  • Michael Kaser

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