NOTE ON THE USE OF STATISTICAL CONSTRUCTIONS

IN several chapters theories based on comparisons between index-numbers of prices and on the “behaviour” of certain statistical series were submitted to critical analysis. It may be useful to state explicitly the foundations on which this analysis and criticism were built, and to discuss briefly the basic conceptions involved.

Adjustment, mechanisms of (Balance of Payments)—

and exchange control, 238

and exchange fluctuations, 157, 226

and exchange funds, 248–251

under exchange standards, 206

under fixed parities, 147–56, 194

under free paper currencies, 146–7, 220

under gold exchange standard, 211

under gold standard, 76, 181, 183, 189, 192, 201–2, 206

various “models,” 143–4

Adjustment, Theory of Automatic, 153–6

Aftalion, Prof. Albert, 111n., 135n., 141n., 147n.

STUDIES IN

ECONOMIC
NATIONALISM

PUBLICATIONS DE L’INSTITUT UNIVERSITAIRE
DE HAUTES ETUDES INTERNATIONALES - N° 35

MICHAEL A. HEILPERIN

STUDIES IN

1960

THE LUDWIG VON MISES INSTITUTE

2010

To the Memory
of my Teachers and Friends
WILLIAM E. RAPPARD
and
PAUL MANTOUX
Founders of the Graduate Institute
cf International Studies

Where there is much desire to learn, there of necessity will be much arguing, much writing, many opinions; for opinion in good men is but knowledge in the making.

John Milton: Areopagitica (1644).

I shall … venture to acknowledge, that, not only as a man, but as a British subject, I pray for the flourishing commerce of Germany, Spain, Italy, and even France itself.

David Hume: Of the Jealousy of Trade (1742).

PREFACE

This short and unpretentious book is a by-product of the comprehensive — and as yet unfinished — inquiry into economic nationalism in the twentieh century which I have intermittently conducted for many years. The chapters of which it is composed were written in the first place in order to clarify my own ideas; and they have also served me for some of the lectures delivered at the Graduate Institute of International Studies during the academic year 1958-59.

PART I

IN QUEST OF PERSPECTIVE