De Internationale Geldmarkt

Londen, 11 Januari 1902.Het is de Redactie aangenaam te kunnen mededeelen, dat de heer C. Rozenraad te Londen zich, op haar verzoek, bereid heeft verklaard, maandelijks in de Economist te berichten over de gebeurtenissen op de internationale geldmarkt.     

The theorems of international trade with joint production

This paper analyzes the implications of joint production for the four basic results of the factor-endowments theory of international trade. The nature of the relationship between commodity prices and factor rewards is first elucidated in detail. It is then shown that, in sharp contrast to prevalent opinion, there is in fact a strong presumption that the basic theorems will continue to hold in essence. The paper then considers applications and extensions of the analysis to higher dimensions.     

Selected Land Reforms in East and Southeast Asia: Their Origins and Impacts

Agrarian reforms in the four case study countries examined here came about by outside influence (Korea and Taiwan), revolutionary uprising (People's Republic of China), and legislation (Philippines). In the last case, the reforms remain very incomplete. In Taiwan and South Korea, reforms initially promoted a more equitable distribution of resources and income. This widened the domestic market, lessened underemployment and joblessness in both agriculture and industry, increased profitability in manufacturing, and established more equitable development patterns. In these economies, a national market has preceded (or accompanied) development of world markets. Land reform is not a once-and-for-all phenomenon. Resources and incomes can concentrate again in the absence of proper government policies. There is no necessary correlation between land reform, economic improvement, and democratic forms of government.