In spite of all protestations and exhortations it is a fact that trade liberalization, the modern version of free trade, is caught in a crisis. Professor Detlef Lorenz is here analysing the causes of this crisis and suggesting alternatives for a future liberalization policy.

Proponents of the theory of unequal exchange claim that the international division of labour is based on the exploitation of the developing countries by the industrialised countries. But the international division of labour allows the developing countries to import goods which they either could...

The orthodox theory of foreign trade, which is simply a theory of re-allocation, can scarcely do justice to the issues that arise in the context of North-South relations. Its isolation from the problems of world and regional economic development, different trade flows and the transfer of...