Today’s global world is characterized not only by a high volume ofinternational trade and foreign investment relativeto national income, but also by a changed composition of that tradetowards a greater fraction of trade in inputs andcapital goods and outsourcing of production.. Emphasized is...

In a world characterized by global competitive market conditions, technological improvements initially localized in one sector of one country cause real income changes at home and abroad, sometimes in paradoxical fashion. A foreign technological advance in the production of a commodity not...