Abstract
How is it that trade takes place within national boundaries without attracting the attention given to international transactions? Why is it that governments insist upon supervision, documentation and detailed analysis of the latter, while leaving domestic trade unencumbered? After all, the geographical division of the world into sovereign states is of no relevance to those principles which determine the efficiency of the market process in allocating resources.
There are strong presumptions of a general character against trade restrictions unless they can be justified on special grounds. (Keynes, 1936, p. 338)
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© 1989 G.R. Steele
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Steele, G.R. (1989). International Trade and Exchange Rate Policy. In: Monetarism and the Demise of Keynesian Economics. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-09994-8_9
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DOI: https://doi.org/10.1007/978-1-349-09994-8_9
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-09996-2
Online ISBN: 978-1-349-09994-8
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