13. Capitalism versus Socialism

I.*

Most of our contemporaries are highly critical of what they call “the unequal distribution of wealth.” As they see it, justice would require a state of affairs under which nobody enjoys what are to be considered superfluous luxuries as long as other people lack things necessary for the preservation of life, health, and cheerfulness.

Audrey Redford is a PhD student in the Department of Agricultural and Applied Economics at Texas Tech and is a gradua

12. The Plight of the Underdeveloped Nations

I.*

Foreign investment was an achievement of laissez-faire capitalism. It developed step by step only in the nineteenth century.

11. Economic Nationalism and Peaceful Economic Cooperation

The task of one privileged to address an audience of serious and conscientious citizens on problems of international relations is thankless indeed. If he is anxious to do his duty and to show things as they really are, he cannot help dispelling illusions, unmasking fallacies and exhibiting the intricacy of the problems involved.

10. Autarky and Its Consequences

I. Terminological Remarks*

There is considerable ambiguity concerning the terminology to be used in dealing with the problems of international economic relations. It seems therefore expedient to start with a clear definition of some terms.

11. Economic Nationalism and Peaceful Economic Cooperation

The task of one privileged to address an audience of serious and conscientious citizens on problems of international relations is thankless indeed.* If he is anxious to do his duty and to show things as they really are, he cannot help dispelling illusions, unmasking fallacies and exhibiting the intricacy of the problems involved.

10. Autarky and Its Consequences

I. Terminological Remarks*

There is considerable ambiguity concerning the terminology to be used in dealing with the problems of international economic relations. It seems therefore expedient to start with a clear definition of some terms.

9. The Disintegration of the International Division of Labor

Introduction*

The international division of labor was an achievement of the spirit of Liberalism. International trade has to some extent existed from the oldest times. There was a regular commerce in some commodities the production of which was limited to special geographical conditions.