This paper views the modern world economy to be constructed with democratic countries that implement trade policies as an income distribution policy, World Trade Organization that intends to improve world welfare by prohibiting export subsidies but allowing import and export tariffs, and...

The purpose of this paper is to explore thoroughly the effects of the change in factor supplies on outputs with commodity prices held constant and to disentangle the intricate involvement between the roles of the factor intensities and factor substitution played in determining such Rybczynski...

The recent efforts of leading industrialized countries to reduce barriers on international transactions have been biased to trade in goods and capital and against labor migration. This paper examines the rationality of such an asymmetry in the liberalization policies by making a welfare...